Latest rating valuations available for the Western Bay
Property owners in the Western Bay will be receiving updated information about the value of their properties this week.
The District’s latest rating valuations have been completed by Quotable Value (QV) on behalf of Western Bay of Plenty District Council, and are being sent out by email and post.
Updated rating valuations have been prepared for all 26,104 properties in the Western Bay, resulting in a total rateable value for the District of $42.76 billion – a 2 per cent decrease since the last revaluation on 1 September 2022. Land value across the District totalled $21.78 billion, representing a decrease of 8.5 per cent over the three-year period.
“Overall, the latest revaluation reflects a general softening in property values across much of the District, with stronger growth in high-demand areas, particularly the Rangiuru Business Park which has seen significant development since the previous revaluation,” says Council’s Acting General Manager Corporate Services, Matt Potton.
Every council in New Zealand is required to carry out a revaluation at least every three years, so that rates can be accurately and fairly calculated. All rating valuations are independently audited by the Office of the Valuer-General before being finalised.
They reflect the likely selling price of a property, excluding chattels, at the effective revaluation date, in this case 1 August 2025. Market movements occurring after this date are not included in the new rating valuations, and they are not intended for other purposes, such as securing finances or determining replacement value.
Revaluations don’t necessarily mean an increase or decrease in rates - it depends on how your property’s value changes compared with everyone else’s, Matt points out.
“We won’t know for sure what impact the revaluations will have on rates until we know what the rating requirement is for the 2026/27 year,” he says.
“This will be set through our annual planning process, which will be finalised in June. This is then divided across all ratepayers and the value of your property is only one of the elements used to work out the amount of rates you pay,” he explains.
“Usually, only properties with an above average valuation movement will pay higher rates. A below average movement may mean you pay less.”
Joe Holmes, QV Upper North Island Regional Manager, says the Western Bay of Plenty District is no exception to the general market trends observed across the wider Bay of Plenty and Waikato regions.
“Well-presented, modern homes continue to attract stronger enquiry and maintain value more effectively than the wider market, whereas older or less well-maintained properties are generally recording more pronounced value declines,” he says.
“We are observing stronger enquiry for smaller, elevated and well-located lifestyle properties that offer manageable land areas, good access and realistic commuting distances to Tauranga and surrounding employment centres. In contrast, larger holdings or properties requiring significant capital investment are attracting more limited interest.”
Commercial capital values have seen little change, while good quality, well-located industrial property continues to see solid enquiry, says Joe.
“Performance within the commercial sector remain location specific. An outlier is certainly the new Rangiuru Business Park,” he says.
Residential
Since the 2022 revaluation, the residential market has remained relatively subdued, with more vacant land availability putting downward pressure on land values. Lower value properties have held up well, supported by continued demand from first-home buyers. Mid-to-high value properties have been more affected due to higher interest rates and tighter lending. Overall, residential values have fallen by an average of 7 per cent, with the average dwelling sitting at $977,000, and the average land value down by 9.1 per cent to $574,000.
Lifestyle
Lifestyle properties with manageable land areas, good access and realistic commuting distances to employment centres have faired better than larger holdings or properties requiring significant capital investment. Over the revaluation period, the average capital value (CV) of lifestyle properties with dwellings has declined by 9.9 per cent to $1,436,000, while the corresponding average land value has reduced by 14.6 per cent to $770,000.
Commercial / Industrial
Commercial capital values have seen a lesser change, with land down by around 5 per cent overall. Values vary by location - Katikati shows minor positive growth, while the Te Puke retail market has experienced a modest decline.
Ongoing development in key industrial growth areas continues to underpin confidence in the sector. Overall, Katikati industrial saw a 2.2 per cent increase in capital value, and Te Puke a 7.5 per cent increase. The Rangiuru Business Park is an outlier to the general industrial market trend, reflected in a 36.9 per cent average increase in capital growth, and 73.1 per cent increase in land value, in the Southern Rural area.
Horticulture / Rural
There has been a slight softening of values for most kiwifruit properties between revaluation dates, noting that the market has strengthened since the 1 August 2025 revaluation date. Pastoral and dairy property values have generally eased slightly, although this varies by location and asset quality. Low sales, elevated operating costs and fluctuating returns have influenced purchaser confidence and tempered value growth.
Further information on the revaluation process and how to make an objection can be found on our property revaluation web page www.westernbay.govt.nz/revaluation or you can pick up a rating revaluation brochure from one of our library and service centres.
Objections process
Objections to the revised valuations can be lodged online at www.qv.co.nz/services/rating-valuations/object-rating/ or in writing no later than Friday 24 April 2026.
Objection forms are available at either QV’s Tauranga office - Level 1, 58 Devonport Road, Tauranga, or one of Western Bay of Plenty District Council’s library and service centres.
Or you can phone QV on 0800 787 284 to talk to someone and have a form sent to you.
More information about understanding your rating value can be found at qv.co.nz/about/about-rating-valuations
