Valuations were revised at 1 July 2011 and revaluation notices were sent out at the beginning of December 2011.
Why does Council keep and update property valuations?
The General Rate is currently assessed on the capital value of your property and roading rates are assessed on the land value of your property. They could also, in terms of legislation, be based on the capital value of your property which is a mixture of land valuation plus improvement valuation, or the annual value of your property which is a calculation based on the capital value of your property, which is why Council maintains and regularly updates valuations of all properties in the District.
What is the "Capital Value"?
The Capital Value detailed on a Valuation Notice is the assessment of the probable freehold unencumbered 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 the Valuation Notice. The valuation will not include chattels, stock, crops, machinery or trees. The valuation is deemed to include GST, if any, for the residential property and exclude GST for other types of property.
What is "Land Value"?
Land Value is the probable freehold unencumbered 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 is "Value of Improvements"?
This is the difference between the 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 and any landscaping that has been done.
What is the "Occupier"?
The owner is deemed to be the occupier unless there is a registered lease giving another person the right to occupy the property for a minimum of 10 years.
What are valuations used for?
The valuations that are undertaken by Landmass Technology Limited on behalf of Council are for rating purposes only.
How often are valuation notices issued?
A general revaluation of each district usually takes place every three years. Rating valuations are issued throughout the three year period between valuations. This occurs when propery details change, resulting from either a subdivision or work done (e.g. new buildings). Please note that for rating purposed these valuations must be back dated to the last revaluation date. They are not a current market valuation and like all rating valuations they exclude chattels (carpet, window furnishings, light fittings) and crops.
How does Council know when changes have been made to a property?
Council has copies of all survey plans and building consents. If you make changes to your property which are likely to affect its value but which are not covered by the building consents approval process, it is recommended that you let us know so that we can keep our records up-to-date.
Can I object to a Valuation?
Yes, you can object to the valuation of your property. 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 the notice which is incorrect please let us know so that we can correct it.
Privacy Act 1993
The contents of the Valuation Notice are contained within the public register known as the District Valuation Roll, which is available for inspection by the public at the Territorial Authority office shown on the front of the Valuation Notice, free of charge until the close of the objection period following a revaluation.
You may have access to any information held about you and you may ask for any corrections to be made.