Updated Valuations Now Available Online in Timaru District

People in Timaru District can now check and see what their property is worth online.

Quotable Value has this week published the latest results of their three yearly valuation of all the 22,363 properties in the district.

They will be posting a copy of the valuation to all the properties in the district, but those who are keen to know can get their latest valuation for free on the QV website qv.co.nz or the QV Homeguide app now.

The overall results show the capital value of an average house in Timaru District is $360,600, an increase of 21 percent over the last valuation in 2014. Land values have also increased by 34.5 percent.

Tina Rogers, Group Manager Corporate Services says that the land valuations are only used to determine part of how much each property pays for council services.

?A large percentage rise in your land value doesn?t correspond to the same rise in your rates bill. Land value is only one part of the rates, most residential customers pay a standard charge for things like water supply, waste and sewerage as well as the uniform annual charge,? she said.

?The overall headline amount of rates paid to the council doesn?t change that dramatically, but the percentage that each household pays may change a little, in some cases up and in some cases rates may even decrease.?

Rates calculations based on the new ratings won't come into force until the 2018-2019 ratings year, which starts on 1 July 2018.

Collectively the total capital value of the 22,657 properties within Timaru District now stands at nearly $14 billion dollars, with the land value sitting at just above $7billion.

If owners do not agree with the rating value they have the right to object.

The objection close-off date is 19 January, 2018.

To find out more about objections or to lodge an objection online go to www.ratingvalues.co.nz or call 0800 787 284 to request an objection form.

ENDS

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