Property Revaluation – Frequently Asked Questions (FAQs)

• Capital Value (CV) is the total value of your property – land plus buildings and other improvements.
• Land Value (LV) is the value of the land only.
• Improvement Value (IV) is the difference between the capital value and the land value and reflects buildings and other improvements.

For rating purposes, Far North District Council uses Land Value only.

Not necessarily. Rating valuations reflect market evidence at a single valuation date. Individual sale prices can differ due to timing, negotiations, urgency of sale, or property features that are not captured in mass valuation models.

Insurance values reflect the cost to rebuild or replace your home at today’s construction prices. Rating valuations are based on property market evidence at the valuation date and are used only to set rates. The two serve different purposes and are not directly comparable.

Not automatically. A revaluation does not change the total amount of rates Council collects. It updates how rates are shared across the district.

What matters is how your property’s value has changed relative to the district average:

• If your value has increased more than the average, you may pay a higher share of rates.
• If it has increased less than the average, you may pay a lower share.
• The same applies where values decrease.

Three key factors influence rates:

1. Council’s total rates requirement (set through the Long Term Plan or Annual Plan).
2. How individual property values change compared with the district-wide average.
3. Council rating policies and differentials.

No. Council does not set or amend individual property valuations. All rating valuations are conducted by Quotable Value (QV) and certified by the Office of the Valuer-General (OVG).

If you are experiencing financial hardship, Council may be able to help through rates relief or flexible payment options. Please contact Council to discuss what support may be available.

Council cannot reduce individual property valuations.

The new valuations will be used when rates are set for the next rating year. Any changes will be reflected from the next rates assessment, not immediately.

Rating valuations are based on:

• Recent property sales in the area,
• Property characteristics (such as size and use), and
• Location,

all assessed as at the valuation date.

Māori Freehold Land is valued using a methodology set by the Office of the Valuer-General that recognises its unique ownership and use characteristics. This differs from the approach used for General Title land.

Regular revaluations help ensure that rates are distributed fairly and reflect changing market conditions across the district.

Incorrect property information should be raised directly with Quotable Value as part of the objection process. Council cannot amend valuation records.

New or altered properties are valued by QV once a title is issued and sufficient information is available. An interim valuation may apply until the next district-wide revaluation.

Significant changes can affect your valuation, such as:

• New dwellings or major extensions,
• Conversions to higher-value uses, or
• Adding or removing substantial structures.

Normal maintenance and cosmetic work (such as painting or installing a new kitchen or bathroom) does not usually affect the rating value on its own.

Property values are influenced by sales activity in your area. Even if you have not altered your property, strong market trends can result in higher values.

The valuation date for this revaluation is 1 September 2025. Values reflect property conditions and market evidence as at that date only.

Sales that occur after the valuation date are not included, even if they are recent. The rating value reflects the property’s value as at 1 September 2025.

QV uses mass appraisal techniques, supported by targeted inspections where needed. Inspecting every property would be impractical and costly, but site visits may occur if there have been significant changes or where further information is required.

Valuation notices are issued by Quotable Value by post on 29 April 2026.

If you are satisfied with your valuation, no action is required. The new valuation will be used for setting rates in the next rating year.

The objection period runs from 29 April to 5 June 2026. This is a firm closing date.

Late objections are generally not accepted and are only considered in limited, exceptional circumstances (for example, extended absence overseas or serious personal circumstances).

Objections must be lodged directly with Quotable Value by the property owner, or by an authorised agent. Instructions are included with your valuation notice.

Council staff cannot lodge objections or influence the objection process.

Timeframes vary depending on the number and complexity of objections. Quotable Value manages the process and will communicate directly with you.

Yes. If you are unhappy with the decision, you may appeal to the Land Valuation Tribunal within 20 days of receiving the objection decision.