Revaluation objections miss rates deadline
More than 987 objections to property revaluations have been lodged with QV by Far North property owners, more than twice the usual number. Ratepayers who lodged objections are advised not to wait for a decision before paying the first rates instalment due on 20 August.
Far North ratepayers who lodged objections with Quotable Value (QV) over revaluations of their properties are being advised not to wait for a decision before paying the first rates instalment due on 20 August.
More than 987 objections to property revaluations have been lodged with QV by Far North property owners (as of 19 July), more than twice the number normally received following the three-yearly assessments. The council uses updated land value information included in revaluations to help it calculate rates on individual properties.
The volume of objections lodged following this latest round of revaluations has significantly compounded delays already experienced with the revaluation process. QV normally sends revaluation letters to property owners well ahead of the council setting rates for the new financial year on 1 July, as required by the Local Government (Rating) Act 2002. Due to reasons beyond the council’s control, October 2022 revaluations were not posted to Far North property owners until mid-May 2023.
Property owners have the right to object to the QV assessment if they believe their property has been under or over-valued, or that the information is incorrect. Due to the delay in receiving revaluations, the deadline for objections was extended to 29 June 2023.
To tackle the backlog, QV has sent valuers to areas in the Far North with a high volume of objections to inspect properties. If the assessor agrees with the objection, rates for that property must then be manually recalculated by council staff. Each recalculation can take an hour or more to complete. Due to already compressed timeframes and the volume of objections lodged, it will take several more weeks for revaluation decisions to be made and rates recalculated. If a change is made to the rates payable on a property, the difference will be spread over the next three rates invoices for 2023/24. This will include any overpayment made for the first August instalment.
Property owners can still lodge an objection to their QV revaluation if they can prove they were unable to do so by the 29 June deadline due to ‘extenuating circumstances’. Far North councillors have requested that this category be extended to include those affected by recent extreme weather events, including Cyclone Gabrielle.
Property owners wishing to object to a revaluation can write directly to QV via its website: www.qv.co.nz/services. Printed objection forms can also be found at 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.
To find out more about how your property is valued, go to our Property-valuations webpage.