Property Revaluation 2025/2026
We've updated all
property valuations
across the District
We must keep capital and land values of all properties in the District updated so that rates can be accurately and fairly calculated. Every council in New Zealand is required to carry out a revaluation at least every three years.
Rating valuations reflect the likely selling price of a property at the effective revaluation date - in this case 1 August 2025 - excluding chattels. They are not intended for other purposes, such as securing finance or determining insurance replacement value.
Market movements occurring after 1 August 2025 are not included in the new rating valuations.
The new values will form the basis of our rates calculation for the 2026/27 year, starting on Wednesday 1 July 2026. Your rates pay for a large proportion of services and activities provided by us. Some examples include; animal control, recycling centres, safe drinking water, playgrounds and maintaining 1079km of local roads and over 200km of footpaths.
The Main Changes
| 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%, with the average dwelling sitting at $977,000, and the average land value down by 9.1% to $574,000.
| Lifestyle |
Lifestyle properties have followed a similar pattern. 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% to $1,436,000, while the corresponding average land value has reduced by 14.6 % to $770,000.
| Commercial / Industrial |
Commercial capital values have seen a lesser change, with land down by around 5% 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% increase in capital value, and Te Puke a 7.5% increase. The Rangiuru Business Park is an outlier to the general industrial market trend, reflected in a 36.9% average increase in capital growth, and 73.1% 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.
A visual representation of the movements.
Who does the revaluation?
Valuations are completed by an independent valuation company Quotable Value (QV) on behalf of us. The valuation process is audited by the Valuer-General. The role of the Valuer-General’s office is to provide fair and transparent land values and to offer specialist valuations and property advice to Government.
They are calculated using analysis of recent comparable sales, with many properties physically inspected — particularly those that have had building consents issued during the past three years.
All rating valuations are independently audited by the Office of the Valuer-General before being finalised.
The role of the Valuer-General’s office is to provide fair and transparent land and capital values and to offer specialist valuations and property advice to Government.
What’s the impact of the revaluation on my rates?
Revaluations do not necessarily mean an increase or decrease in rates. It depends on how your property’s value changes compared with everyone else’s.
Usually, only properties with an above average valuation movement will pay higher rates. A below average movement may mean you pay less.
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 rating year. The total budget we need each year is set through our annual planning process, and this will be finalised in June 2026. This total is then divided across all ratepayers – and the value of your property is one of the elements used to work out the amount of rates you pay.
Is there a difference in how rural and residential property valuations affect rates?
Yes. The main difference is due to fixed charges such as water, wastewater and roading. Rural properties have fewer fixed charges than their urban counterparts. This means that property values make up a greater proportion of the rates calculation for rural people than urban residents, so any movement in valuation will have a greater impact on a rural property’s rates than an urban property’s rates. For example, a typical rural property’s rateable value may make up 80% of their rates calculation, while an urban property’s could be just 25%, with the rest made up of fixed charges.
What does the valuation figure impact on?
The valuation is calculated on the land and capital value of each property. These valuations drive the general rate based on capital value and the roading rate based on land value. This is totally separate from the remaining rates charged by Council that are fixed charges such as sewerage and water.
What makes up the valuation of a property?
Land value
The value of the vacant land with no improvements.
Capital value
The total value of the property (including land, buildings and other improvements). It is the estimated sale price of a property at the date of valuation and does not include movable items such as household chattels, business goodwill, or other income derived from your property.
Value of improvements
This is the difference between the land and capital values of the property and reflects movement in capital value as a result of improvements. For example improvements can include the construction of buildings or the establishment of orchards/vines, and any landscaping, forestry etc.
Capital value - land value = value of improvements
Disagree with your valuation?
If you disagree with your property’s latest valuation you can lodge an objection no later than Friday 24 April 2026.
The easiest way to object is online at the QV website here.
You can also:
- Pick up an objection form from your nearest QV office or one of our Library and Service Centres.
- Phone QV on 0800 787 284 to talk with someone and have a form sent to you.
