How does the process work?
How does the council know what my house is worth?
Valuations are done on a “mass appraisal” basis, using sales data from properties sold. Staff also inspected 85,000 of the city’s 173,000 properties from the street, and took into account any consents granted for additions or alterations. The valuer general then audits and signs off the valuations.
How often are properties revalued?
Auckland City Council revalues every three years, at a cost of about $1.3 million.
What’s the capital value, land value and annual value?
Land value is the probable price paid for the land alone, if offered for sale at July 1, 2008. Capital value is the probable price for the land plus buildings. Annual value, which is used to calculate rates, is the greater of 5 percent of capital value or estimated gross rent less 20 percent.
What if I don’t agree with the valuation?
You have until December 1 to object, and a valuer will be asked to assess your property again.
For more details, see www.auck landcitycouncil.govt.nz/valuation.