Transcript of 'Revaluation - a simple explanation' video
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[Video: Text on a dark blue background reads 'THE VALUE OF REVALUATION'. A calendar animation flips through consecutive years from 2022 to 2024.]
Voice: "The value of revaluation. Every three years we revalue your property and update your capital value or CV."
[Video: Animated house with a sale sign and text showing the house price increasing from $0.1m to $1.2m. An animated calendar shows 1 May 2024.]
Voice: "Your CV is what we estimate your property would have sold for on the first of May 2024."
[Video: Animation showing three different houses on a white background. Text above the houses reads 'BILL' with a $ dollar sign in a red circle on the left, green circle in the middle and blue circle on the right.]
Voice: "The council uses CVs to allocate rates across all properties in Tāmaki Makaurau. The values help us share rates fairly across all property owners and are not for buying or selling a property."
[Video: Text on a dark blue background reads 'HERE'S HOW IT WORKS'. A graph shows changing property values from 2019 to 2024 using red and blue lines. Two circles show animated properties with 'SOLD' text overlaid in the year 2022 on the blue line and 2023 on the red line. Two other circles show animated properties with 'SALE' signs in the year 2021 on the blue line and 2022 on the red line.]
Voice: "Here's how it works: Valuers assess the CV for all properties by analysing data such as local sales, property type, location and other property factors."
[Video: A red circle with 'CV' overlaid appears on the left side of the screen, a crossed out equal sign is in the middle and 'SALE PRICE' in a blue circle is on the right side.]
Voice: "The values are not a good indication of what your property would sell for today."
[Video: An animated house at the top with values increasing from $0.4M to $1.2M. Values increasing from $99K to $900K for the animated house at the bottom. Text on right side reads 'RATES' with upward and downward arrows demonstrating increasing and decreasing rates with two cross symbols next to the arrows.
Voice: "A change in your property CV will not necessarily mean your rates will be higher for an increased value, or lower for a decrease."
[Video: Three animated houses pop up with three blue bars extending from them on the left side and three red bars on the right side. On the left side, text reads 'CV' with 'Higher' on the top blue bar, 'Average' on the middle, 'Lower' on the bottom blue bar. On the right side, text reads 'RATES' with 'More than 5.8%' with an upward arrow on the top red bar, 5.8% in the middle and 'Less than 5.8%' with a downward arrow on the bottom red bar.]
Voice: "Usually, only properties with a valuation change higher or lower than the region's average will pay a higher or lower proportion of rates. For example, if the average increase for the general rates is 5.8 per cent, how your property's CV compares to other properties in your area will determine whether your increase from 1 July is more or less than 5.8 per cent."
[Video: Animated house in a circle with '$value' text on top, upward arrow pointing to another circle which reads 'BILL' and has a $ sign. Animated calendar pops up showing 1 July 2025.
Voice: "Your new CV will be used to calculate your rates from next rating year, which starts on the first of July 2025."
[Video: A piece of paper with 'BILL' and three dollar signs on it appears in a dark blue circle. Seven other circles pop out with text that reads public transport, community facilities, environmental services, parks, art galleries, museums and rubbish collection. Text in the big circle flips to read 'VALUE' and shows a bar graph with second bar from the left in yellow.]
Voice: "Your rates pay for a wide range of day-to-day activities and support investment in Auckland's assets. Auckland Council is focused on delivering value for money and continues to forecast some of the lowest rates increases in New Zealand."
[Video: Text on dark blue background reads 'YOUR RATES MAKE A DIFFERENCE']
Voice: "Your rates make a difference."
[Video: A pie chart shows 40 per cent highlighted in blue with a line that points out to read 'RATES BILL'.]
Voice: "Property rates contribute only about 40 per cent of council funding."
[Video: Map of Auckland with circles popping up with animated pictures of a dog, an Auckland Council rubbish truck and a community facility. Circles flip into a pie chart broken into five wedges with 'CV' written in one of the wedges with a red background.]
Voice: "Auckland's total rates requirements depends on how much money the council needs each year to run the city. This total is divided across all ratepayers using several factors including the CV of your property."
[Video: Four circles pop up with animated pictures. Starting from left, the first circle has an animated picture of a woman with a dog, the second circle shows a man working on a laptop and a woman standing next to him in a community space, the third circle has a moving animated train with a hand showing a travel card and the fourth circle shows a woman riding a bike on road.]
[Video: Four more circles pop up below the above circles showing an art gallery with a dinosaur, a customer services representative working on a laptop, a moving rubbish truck with a bin placed on the roadside and three children watching Movies in Parks.]
Voice: "Rates help us invest in services and activities for our communities, improving public transport, maintaining parks, museums and art galleries, environmental services, rubbish collection and community facilities."
Voice: "Your rates pay for a wide range of day-to-day activities and services that deliver a beautiful, thriving and safe Auckland."
[Video: Auckland Council logo with text below that reads 'To learn more, visit aucklandcouncil.govt.nz/revaluation' on a dark blue background.]
Voice: "To learn more, visit aucklandcouncil.govt.nz/revaluation."
[Video ends]
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