Property Revaluation 2017/18

New Valuations Reflect Increase in Western Bay Land Values

Western Bay ratepayers received information on the latest revaluation of their property in December 2016. Revaluations are required to be conducted at least every three years by every council in New Zealand under the Rating Valuations Act 1998.

The overall trend since the 2014 valuation reflects an increase in the value of residential and lifestyle properties, horticultural, dairy and pastoral. However the range in values varies across separate communities.

​Residential +34%

The residential market has been increasingly buoyant since mid-2015, with significant increases in values across all categories of residential property. Lower value properties have tended to increase more than higher value properties in percentage terms. The Tauranga Eastern Link has significantly improved access and this has impacted on residential values at the eastern part of the District.  

Lifestyle +31%

The market for lifestyle properties tends to follow similar trends for residential. As with residential property, the Tauranga Eastern Link has impacted positively on lifestyle values in the Paengaroa/Pongakawa area.

​Kiwifruit +42%

Kiwifruit orchard values have continued to show very significant increases in values and the industry is now considered to have fully recovered from the impact of PsaV.

​Pastoral  +19% and Dairy +18%

Pastoral and dairy properties have shown similar levels of increase in value since 2014. Long-term confidence in the dairy industry has supported values and demand for both dairy and pastoral land. Properties suitable for a change to a higher and more productive use have been in good demand.

Valuation Independence
The valuation was carried out by the independent valuation firm Opteon (previously known as Landmass) and audited by the Valuer-General and will come into effect on 1 July 2017. While valuations have an influence on rates, due to the portion of total annual rates being based on the land and capital value of each property, the total amount of rates collected by the Council is not influenced by the valuations.

See below for a visual representation of the movements.

Average valuation movement by property type Dec 2016.jpg
 Average residential and percentage average.jpg 

Property revaluation search

To view your property revaluation please click here.

Page reviewed: 13 Jul 2017 9:30am