The VOA may change the rateable value if the circumstances of the property have changed. The ratepayer (and certain others who have an interest in the property) can also appeal against the value shown in the list if they think it’s wrong.

every three years
The law requires all councils to revalue properties within their boundaries every three years.

If your client would like to appeal the market value of a property valuation, they must provide the following: Evidence of three comparable property sales within the last three months, along with supporting rationale detailing any improvements made to the subject property.

Every property in NZ has a rating value, which is usually assessed every three years. The assessment is completed by your council or on behalf of them by a Valuation Service Provider such as Quotable Value (QV).

CVs are calculated using mass appraisal techniques – meaning valuers don’t personally visit and assess every single home. Instead when the council assesses the value of each property, it considers the following factors: – changes that have been made to a property since the last revaluation.

What happens if you get a down valuation? Sellers have several options if their home is down-valued. They can look for another buyer, but they will need to be using a different mortgage lender than the one who has already down-valued the home. Another option is to wait, and hope that the property increases in value.

QV E-valuer It’s property value estimating tool, E-valuer, may be the most accurate of all the tools we’ve mentioned, claiming that 93 per cent of the estimates it provides are within 20 per cent (plus or minus) of a property’s true market value.

Revaluing Auckland’s properties won’t affect the amount of money the council collects from rates. It helps us make sure we are sharing the rates requirement fairly between properties as valuations move across the city. Aucklanders already know that the council is increasing rates by 3.5 per cent in from June 2022.

As a result, the Valuer-General has agreed to Auckland Council’s request to defer its 2020 general revaluation for one year because of difficulties caused by COVID-19. Rates will continue to be generated based on the current (2017) values in the same manner as the 2019/2020 and 2020/2021 rates have been.

All councils in New Zealand are required to revalue properties within a three-year period. Earlier this year, Auckland Council commenced its latest revaluation exercise that would result in updated capital values being available on all properties in early November 2020.

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