Every three years Council must conduct a District Revaluation.
The 2018 district revaluation was carried out in the second half of 2018. The new valuations will be used for rates purposes from July 2019.
New 2018 values are based on the property market as at 1 July 2018. This is the 'effective date' of the valuation. Values have been assessed by independent valuers and audited and approved for release by the Office of The Valuer General.
Actual changes in valuations vary for every property, however the overall trends were:
|Property type||Average change|
Total change in value of the district
Rating valuations are an estimate of a properties market value*, excluding chattels, as at 1 July 2018 being the effective date of the revaluation. The property markets tend to change over time therefore rating valuations do not necessarily reflect current market value at a later date. *See 'How are values assessed' below.
Impact of the 2018 revaluation on rates
The total amount of rates that Council requires and therefore charges is not affected by a revaluation, however a revaluation can result in a change of the rates for individual properties with some increasing and some decreasing.
It is important to note that for most properties in the district, only a small portion of the total rates are linked to its valuation. In the 2018-19 year, a typical residential property with a capital value of $150,000 has rates of $2,058.73. Less than a quarter of this amount, $440.25, is based on the properties valuation so only this portion is affected by a change in valuation. The remainder of the total rates is made up of fixed charges that are not impacted by valuation changes.
Additionally, Council resolved in its Long Term Plan to reduce the Uniform Annual General Charge in rates in 2019. This reduction helps to smooth the impact of the valuation changes.
The impact on rates of the new valuations combined with a reduced Uniform Annual General Charge is shown for individual properties in our Rating and Property search tool accessed from the 'Check your valuation' section immediately below.
Check your valuation
To look up the valuation of a property, use our Rating and Property Search
If you have any questions about your valuation, or valuations in general, please read the following answers to frequently asked questions, or use the enquiry form at the bottom of this webpage.
Answers to your questions in plain language
What does 'Capital Value' mean?
This is the assessment of the probable price that would have been paid for the property if it had been for sale at the date of the latest general revaluation shown on this notice. This valuation does not include chattels, dairy company shares, stock, crops, machinery or trees. The valuation is deemed to include GST (if any) for residential property and exclude GST for other property types.
What is 'Land Value'?
Land Value is the probable price that would be paid for the bare land as at the date of valuation. The Land Value includes any development work which may have been carried out, such as draining , excavation, filling, retaining walls, reclamation, grading, levelling, clearing of vegetation, fertility, build up or protection from erosion or flooding.
What does 'Value of Improvements' mean?
This is the difference between Capital Value and the Land Value. It reflects the added value given to the land by any buildings or other structures present on the property.
Why is my Insurance Valuation different to my Rating Valuation?
Insurance is usually based on the cost to rebuild all buildings on your property and may include the cost to clear and reinstate land and fences. This can be very different to the market value of your property.
How are the values assessed?
When assessing Land Value and Capital Value, Council's valuers consider all property sales which occurred in your locality around the date of the latest general revaluation. Non-market sales are identified and rejected. Commercial properties are assessed using average lease data for properties in your area. This can result in the RV for a commercial property being different to market value based on a properties actual lease status.
If you don't look inside my house, how do you know what it is worth?
Councils hold a lot of property information including floor plans, building age, construction styles and materials, land information and sales data. Most properties that have sold recently or had building work carried out are inspected. A significant number of other internal and roadside inspections are undertaken prior to the revaluation to ensure accuracy. Our valuers - Opteon Technologies Ltd - also know and understand our local market conditions. The valuation methods used for rating valuations are audited and approved by the Valuer General.
What are the valuations used for?
South Waikato District Council and Waikato Regional Council use these valuations as a basis for levying rates.
How does the valuation affect my rates?
Changes in valuation may result in changes to rates. For most urban properties, only a small portion of the annual rates is based on property value. Uniform Annual General Charges and Uniform charges for Water Supply, Sewerage, Refuse and Recycling make up a larger part of the annual rates and these charges are not based on property values and therefore not affected by changes in property values. Valuation changes tend to have more of an effect on annual rates for higher value properties.
When property values change, the total amount of money we collect doesn't change, just how we slice the pie changes to reflect the changes in market values. Some properties may even see a decrease in their rates, even if their capital value increased. Changes in rates are most likely to occur when the valuation on an individual property is different from the average value change for the district.
How often are notices issued?
A general revaluation of each district usually occurs every three years. Rating Valuation notices are also issued between revaluations when changes are made to properties. Changes may include: subdivision or amalgamation of land; changing land use; erecting new buildings; or adding to, altering or demolishing existing buildings. When a valuation is issued between general revaluations, the values are assessed as at the date of the last general revaluation to preserve uniformity between properties.
How does the local authority know when changes have been made to my property?
The local authority has details of all resource and building consents. If you make changes to your property which are likely to affect its value, but which are not covered by either of the above approval processes, please advise us so that we can update our records and amend the property's value if necessary.
Is the Rating Value lower than the market value?
Rating Values do not include chattels - including ovens, dishwashers, curtains & light fittings, so can be lower. Rating Valuations are a snapshot of the market at a single point in time. As real estate tends to fluctuate over time, a rating valuation cannot be expected to represent the true value for long.
What can I object to?
You can object to the valuation of your property and when there has been a general revaluation you may object to the valuation of any other property appearing on the district valuation roll. If there is any data on this notice which is incorrect, please advise us so that we can correct it.
How do I object?
You are encouraged to telephone the South Waikato District Council on (07) 885 0340 to discuss your concerns first. If you wish to pursue the matter, you will then need to lodge an objection in writing before the closing date for objections shown on the front of this notice. The objections can either be on an official form, which may be obtained from South Waikato District Council or our website, in a letter or by email. In your objection you must state the valuation reference number, the address of the property, a daytime contact telephone number, your mailing address, your reason for objecting and an estimate of what you realistically believe the value should be. You may appoint someone else to act on your behalf.
What happens if I lodge an objection?
A valuer may contact you and may arrange an appointment to inspect your property to verify the property records and update them where necessary. The outcome of the consideration of your objection will be advised to you in writing. If you are still not satisfied, you may seek to have your objection heard by the Land Valuation Tribunal. You will need to pay a hearing fee.
At the Land Valuation Tribunal hearing, you will be required to state your estimate of the value and provide evidence to support your claim. This evidence would normally be information about sale of similar properties which occurred at, or near, the date of the valuation being objected to. The Land Valuation tribunal will make a decision based on the evidence presented.
Privacy Act 1993
The contents of this valuation notice are contained within the public register known as the District Valuation Roll, which is available for inspection by the public at the local authority office shown on the front of this notice free of charge until the close of the objection period following a general revaluation of the district.
You may have access to any information held about you and may ask for corrections to be made.
Plain Language disclaimer - plain language has been used to help you understand some of the laws and issues relating to valuation and rating processes. Wherever the general wording of the notice differs from the wording of the legislation, the legislation will prevail.
Revaluation Enquiry Form
Please note that this is for enquiries only. It is not an official objection form. Staff will reply to your enquiry as soon as possible and will advise if an objection should be lodged.
You can find the enquiry form www.rea.govt.nz.