Delayed property revaluations in mailboxes by mid-May
Published on 24 April 2023
Latest property revaluations from Quotable Value will be posted to ratepayers on 15 May – much later than usual. This could see decisions on some objections delayed until after the council sets its rates on 1 July.
All properties in New Zealand are revalued every three years, with the last revaluation for the Far North undertaken in 2019. Due to reasons beyond the council’s control, new valuations undertaken in October 2022 will now not be posted to Far North property owners until 15 May 2023.
Far North District Council has appointed Quotable Value (QV), New Zealand’s largest valuation and property services company, to undertake its property revaluations. The company’s valuers assess how much the land, capital, and improvement values have changed over the past three years. The council uses updated land value information to help it set rates for individual properties. Property owners can object to the QV assessment if they believe their property has been under or over-valued. Objections must be made by 22 June 2023.
The delay in getting the latest property assessments to Far North property owners was due to QV staff being diverted to emergency assessments following the Auckland floods and Cyclone Gabrielle.
Janice Smith, Group Manager – Corporate Services for Far North District Council says that decisions on objections are usually made by QV well ahead of council striking rates for the next financial year.
“But due to the delay in receiving the October 2022 revaluations, the normal objection period has been significantly compressed and it is possible that some objections will not be decided before the council strikes rates on 1 July.”
She says the council is required by the Local Government (Rating) Act 2002 to send out the first rates invoice based on the property value held at that time. “If an objection is successful after we strike rates on 1 July, the council will send out an amended rates assessment to the property owner.”
She points out that land value is just one factor used to calculate rates and often has only a moderate impact on the annual rates assessed for each property.
“If you haven’t received your revaluation notice by 27 May 2023, please contact QV directly. The council will also upload the entire District Valuation Roll to our website next month. The roll will be searchable and will display the value of any property within the district.”
Anyone without access to the internet, can use public computer terminals at one of the council’s six Far North Libraries to view the District Valuation Roll. Library staff will be on hand to assist.
Property owners who wish to object to a revaluation are advised to do so directly to QV via its website: www.qv.co.nz/services.
Printed objection forms can also be obtained from council service centres and libraries, or property owners can write to QV directly at:
Quotable Value Limited — Business Support
Private Bag 39818
Wellington Mail Centre
Lower Hutt 5045.
Objections close 22 June 2023.