New rating valuations released by City Council
New rating valuations released by City Council
The Christchurch City Council has released the new rating valuations for all rating units (or properties) in the city and all ratepayers will receive their valuation notices next week.
Total increase in the Capital Value of the city is $47,304 million, up from $31,475 million, an increase of 50.3%. Effective from 1 August, 2004, the new values will be used for rating from 1 July 2005.
The new values were prepared by the State Valuation Office, the Council¡¦s valuation service provider, and their release was approved by the Valuer General of New Zealand. New individual rating unit values can be searched on the Council web site www.ccc.govt.nz from Monday, 15 November.
The likely impact on rates of the new values is not yet known but Capital Values alone do not change rates set by the Council says Council Funds and Financial Policy Manager Geoff Barnes. Rates do not increase by the Capital Value change. The value change only effects the rate distribution. It is unlikely that there will be many surprises in the valuation changes - much of the information having already been discussed in the media, Mr Barnes says.
The Capital Values are based on property sales from around 1 August and, as such, are market driven. Over the next few months the Council will develop the rate distribution and rate policies as part of its Annual Plan 2005/06 process in which ratepayers will have an opportunity to make submissions.
All ratepayers have a right to object to the new values but the Council is advising people to first talk to the Council¡¦s valuers, State Valuation Office, phone 377 ¡V 6431, to ensure the nature and content of the objection is complete.
The following table summarises the overview statistics for the 143,419 Rating Units (separate properties):
1 September 2001 1 August 2004 %
Total Capital Value $31,475,219,508 $47,304,881,470 50.3%
Total Land Value $13,645,637,005 $21,231,609,030 55.6%
significant trends shown in the revaluation are:
- The residential properties in the city (127,661 rating units) have increased by 53.7% over the 2001 values,
- Single unit dwelling houses (96,937 rating units) have increased by 53% over the 2001 values;
- Residential flats (22,984 rating units) have increased by 54% over the 2001 values;
- The average residential value (dwelling houses and ownership flats) increased to $259,948 compared to the previous average of $169,447;
- Properties with older houses have typically increased more than new houses;
- Vacant residential section values have increased by 53%;
- Industrial and commercial properties have increased by factors of 40% to 50%, depending on use;
- Vacant industrial section values have increased by 87%;
- The central business district commercial values have increased by 45%;
- Residential block land has increased by a factor of 82%;
- Rural property has shown significant increases in median value, increasing between 40% to 103%, depending on use.
Attached is a summary of residential property value changes by suburb with the median values.
Taken from Revaluation Notice to be sent to each ratepayer on 15 November
A notice of valuation is issued as the result of the three-yearly general revaluation of the Christchurch City Council, as at 1 August 2004 pursuant to section 9 of the Rating Valuations Act 1998.
Local authorities use information contained in the district valuation roll to set rates.
The Rating Valuations Act 1998 obliges councils to maintain the valuation rolls but allows them to choose their valuation service provider. The valuation service provider for the Christchurch City Council is the State Valuation Office.
The Valuer-General regulates the maintenance of district valuation rolls to ensure that they meet the minimum standards set out in the Rating Valuations Act, the Rating Valuation Regulations 1998 and the Rating Valuations Rules. The Valuer General has approved the release of the new valuations for Christchurch City.
Guideline to Objection Rights
If you are dissatisfied with the valuation you are
encouraged to telephone the State Valuation Office (377
6431) and discuss your concerns. If after this discussion
you still wish to formally object to the valuation you must
write to the State Valuation Office (PO Box 2150,
Christchurch) by 29 December 2004.
Your written objection should include all the information as stated on the reverse of this page and quote the following valuation reference number in all correspondence.
What you need to provide
with an objection
Your objection will need to state:
- The valuation reference number
- The address of the rating unit
- Rating values:
- Capital Value
- Land Value
- Value of Improvements
- A daytime contact telephone number
- Your name and your interest in the rating unit, i.e. are you:
- Agent, if so who you are acting for
- Ratepayer of any other rating unit on the Christchurch City Council District Valuation Roll. If so, state the valuation Roll Number of that rating unit.
- Your postal address and address for service
ƒ¤ Your reasons for objecting
- What you realistically believe the values should be, and evidence to support your values.
Please note that copies of any other information, such as valuation reports or details of commercial leases would be helpful.
An objection form is available from www.ccc.govt.nz , Civic office ( Phone 941 8999), or Council service centres.
Following this notice of objection a Valuer may contact you and arrange an appointment to inspect your property to verify the property records and update them where necessary. The outcome of the consideration of your objection will be advised in writing. If you are still not satisfied, you may seek to have your objection heard by the Land Valuation Tribunal, at the Christchurch District Court. You will need to pay a hearing fee. At a Land Valuation Tribunal hearing, you will be required to state your estimate of the value and provide evidence to support your claim.
Frequently asked questions:
How often are notices issued?
A general revaluation occurs every three years. Valuation notices are also issued between revaluations when changes are made to properties. Changes may include: subdivision of land; amalgamation of more than one piece of land; changing land use; erecting new buildings; or adding to, altering, or demolishing existing buildings. When a valuation is issued between general revaluations, the values are assessed as at the date of the last general revaluation to preserve uniformity between properties.
How are the values assessed?
Values are assessed every three years. Our valuers consider market related property sales which occurred in your locality around 1st August 2004, the date of the general revaluation. A market trend is then established and applied to all like properties in your locality.
What does ¡§Capital Value¡¨ mean?
This is the assessment of the probable sale price that the property might be expected to realize at the 1st August 2004, the date of the general revaluation. This valuation does not include chattels, stock, crops and machinery.
What is ¡§Land Value¡¨?
Land Value is the probable price that would be paid for the bare land as at 1st August 2004.
What does ¡§Value of Improvements¡¨ mean?
This is the difference between the Capital Value and the Land Value. It reflects the added value given to the land by the improvements. Localities with high land values may often have low value of improvements.
What are rating valuations used for?
The values and the property records are used by the Council as a basis for levying rates. The new values will be first used for rating purposes from 1 July 2005.
Changes in rating values for each property are not
the primary cause of change in the rates assessed. It is
the value of this property in relation to the value of all
properties in the city that is the significant factor.
If your value increase is at the average then the change in your rates will be minimal. The City Council considers the impact of the new values when setting the rating policy for next year as part of its Annual Plan. Any queries in respect to rates should be directed to Christchurch City Council.
The district valuation roll and rating information database can be viewed on www.ccc.govt.nz, or at the Christchurch City Council, Civic Offices, 163 Tuam Street.
Revaluation of Christchurch City Council -
as at 1 August 2004
Capital Values by valuation area - excluding vacant land
Valuation Area Number of
Properties Total Capital Value Increase in Capital
Value Median Value
of valuation area over 2001
# $ % $
Fendalton 3,468 1,884,331,000 53.59% 465,000
Hills Seaview 3,057 1,450,534,400 58.14% 424,000
Hills / Westmorland 538 228,703,000 40.70% 406,000
Hills Other 2,383 1,036,663,000 55.85% 393,000
Merivale / St Albans 3,040 1,235,016,200 65.29% 357,000
Sumner Flat 1,092 424,662,300 72.78% 349,000
Redcliffs Flat 599 220,126,000 62.91% 330,000
Avonhead / Burnside 2,056 700,921,000 47.88% 325,000
Ilam, / Riccarton 2,880 993,777,000 50.61% 302,000
Cashmere 1,735 530,425,000 51.88% 281,000
Avonhead / Upper Riccarton 4,397 1,255,845,900 52.30% 272,000
Halswell 3,579 1,034,505,000 49.00% 271,000
Lower Cashmere 1,577 440,795,000 53.85% 265,000
Burnside 2,598 744,788,000 51.99% 263,000
Belfast 2,214 636,520,700 47.39% 246,000
Bryndwr / Papanui 4,528 1,241,366,700 52.27% 246,000
Four Avenues 2,607 793,534,400 58.15% 245,000
Heathcote 355 87,749,000 41.74% 238,000
Isleworth 3,725 944,326,900 50.49% 231,000
Innes 2,616 640,972,200 53.29% 221,000
Riccarton South 2,840 702,356,100 65.50% 220,000
St Martins / Opawa 3,446 807,067,100 44.74% 220,000
Wigram 715 169,442,600 50.84% 218,000
Mairehau 5,524 1,355,583,800 52.76% 217,000
South Shore / Brighton 2,857 687,203,300 74.29% 217,000
St Albans 4,302 985,545,500 59.47% 214,000
Templeton 579 133,902,000 39.04% 214,000
Northcote / Redwood 6,592 1,567,272,400 46.46% 211,000
Parklands 2,840 734,352,000 49.28% 211,000
Upper Riccarton / Yaldhurst 2,892 642,607,600 48.15% 206,000
Barrington 5,937 1,271,912,100 55.70% 205,000
Kaianga / Brooklands 758 168,373,900 56.95% 205,000
Dallington 4,932 1,060,736,800 54.84% 202,000
Rowley 2,274 471,468,000 51.71% 202,000
North Beach 3,657 764,145,200 54.70% 193,000
Hornby 3,687 665,412,100 48.95% 177,000
Brookhaven / Ferry 1,074 225,683,600 44.77% 172,000
Addington 1,762 340,909,900 56.44% 171,000
Linwood 7,572 1,313,181,300 56.67% 165,000
Wainoni / Bexley 5,910 1,057,712,800 47.86% 165,000
Opawa / Woolston 3,181 551,582,800 56.54% 160,000