Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


First post-quake property revaluation for Christchurch City

Tuesday, 24 September, 2013

First post-quake property revaluation for Christchurch City Council

The Christchurch City Council is undertaking its first post-quake revaluation of more than 160,000 city properties.

The earthquakes delayed a city-wide revaluation scheduled for 2010 and the Government gave the Council permission to continue basing rates on 2007 property valuations.

This year’s revaluation method was adopted by Cabinet on the recommendation of Land Information New Zealand (LINZ) and will treat Christchurch properties as if any earthquake damage has been repaired.

It assumes insurance and EQC payments will return affected properties to their pre-quake state, and reflects the current practice of assigning insurance entitlements to buyers when properties are sold.

The Council has contracted independent valuer Quotable Value to carry out the reassessment of property values, and ratepayers will receive their new valuations in March, then have six weeks to lodge objections. The new valuations won’t have any effect on rates until 1 July 2014.

Christchurch City Council Acting General Manager Corporate Services, Diane Brandish, said extended use of the 2007 valuations was an emergency measure adopted after the earthquakes, and the Council had a statutory obligation to return to the practice of updating its property valuation database on a three yearly cycle.

“With considerable changes in property values across the city since 2007, valuations need to more accurately reflect current circumstances. The Rating Valuations Act says rating valuation systems must be equitable, and it would be unfair to continue apportioning rates using data that is now six years old.”

“It’s also important to note changes in valuations do not affect the total amount of rates collected, which is set in the Council’s Annual Plan. However the changes will have an effect on how the rates burden is distributed between property owners.

“Your rates bill is based on the value of your property in relation to the value of all properties city-wide. If your property value goes up by less than average, then your rates bill will go up by less than average, and may even fall. If your property value has risen by more than average, then your rates bill will go up by more than average.”

For more information about the revaluation, visit the Christchurch City Council website www.ccc.govt.nz

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Royals: The Prince Of Wales And Duchess Of Cornwall To Visit

Prime Minister John Key welcomes today’s announcement that the Prince of Wales and The Duchess of Cornwall will visit New Zealand in November. This will be the second joint visit for Their Royal Highnesses to New Zealand. More>>

ALSO:

Tracey Martin Replaced: Ron Mark Is New New Zealand First Deputy Leader

Clayton Mitchell was the successful candidate for the Associate Whip position. Winston Peters was re-elected as Leader by the Caucus. Ron Mark was elected as the Deputy Leader with effect from 10am, Friday, 3rd July. More>>

ALSO:

Rebuild Rebrand: "Regenerate Christchurch" To Replace CERA

The regeneration of Christchurch will be the city’s focus for the next five years as local leadership progressively takes control of the rebuild, Canterbury Earthquake Recovery Minister Gerry Brownlee says. More>>

ALSO:

Nauru: Scholars Urge Minister To Act On Deteriorating Democracy

“Since the 2013 election in Nauru, there has been a series of disturbing developments on the islands that indicate a severe deterioration in the state of its parliamentary democracy and in the rule of law,” say the scholars. More>>

ALSO:

Foreign Affairs: NZ Begins Presidency Of UN Security Council

Prime Minister John Key has welcomed the start of New Zealand’s month-long Presidency of the United Nations Security Council in New York. More>>

ALSO:

Labour: Cash For Charter Schools, Mould For State Schools

“Recently released financial statements show the Whangarei charter school He Puna Marama received $3.9 million in government funding to the end of last year. Yet their audited accounts show they only spent $1.4 million on education, leaving almost $2.5 million over two years unaccounted for." More>>

ALSO:

Kiwirail Plans Shift From Electric: National Urged Not To Take Backwards Step

The National Government shouldn’t drag New Zealand backwards by replacing its climate friendly electric trains with carbon-polluting diesel trains, the Green Party said today. More>>

ALSO:

Capital Connection:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news