What are valuation rates?
Historically these rates have been assessed on the land value of your property. Since 2009/10 they are now assessed on a 'hybrid' basis. This means rates assessed for roading will be on a land value basis while the balance of the rate, the 'general' rate, is assessed on a capital value.
The land and capital value of your property is based on valuations undertaken by registered valuers on a comprehensive set of properties covering all property types in the District.
All values of properties in the District are added together to form a total value. The amount of rates needed to be collected as a result of Council's annual plan requirements is then assessed and this figure is divided by the total valuation to arrive at a dollar rate.
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 sold at the date of the latest general revaluation shown on the Valuation Notice. The valuation will not include movable items like chattels, stock, machinery. 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 the '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, orchards/vines 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 Opteon Solutions 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. The latest revaluation in the Western Bay of Plenty District occurred in 2019.
An update on the land and capital value to owners will be sent to property owners from 20 December 2019.
Rating valuations are issued throughout the three year period between valuations. This occurs when property 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.
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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.
How can I make an objection?
If you disagree with your property’s latest valuation you may lodge an objection in writing before the closing date for objections shown on the front of the Valuation Notice. Objections must be in writing and must reach Council by Friday, 7 February 2020. Objection can be made either on an official form or in a letter.
In your objection you will need to state the valuation reference number, the values of the property as stated in the valuation notice, whether you are objecting as the owner/occupier or simply an interested party, 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 re-inspect your property to verify the property records and update them where necessary.
You will be advised in writing of the outcome of due consideration of your objection. 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. Pending the outcome, you may also be required to pay for costs incurred in the Land Valuation Tribunal Hearing.
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 sales 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.