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


Ruapehu Rating Values

Ruapehu Rating Values

The Ruapehu District Rating Revaluation for 2017 is now confirmed and property owners will soon receive a 2017 Notice of Rating Valuation with an updated rating value for their property.

The new rating valuations have been prepared for 9805 properties on behalf of the Ruapehu District Council by Quotable Value Ltd (QV).

Rating valuations are carried out on all properties in New Zealand, usually once every three years to specifically help local councils set rates for the following three year period. Rating values are just one of a number of factors councils use to allocate rates. Council rates will not be based on the new 2017 rating valuations until 1 July 2018.

The updated rating valuations should reflect the likely selling price of a property at the effective revaluation date, which was 1 July, 2017, but do not include chattels.

The rating revaluation figures compiled by QV show the total ratable value of the 9805 properties within the Ruapehu District is now $4.778 billion, with the land value of those properties now valued at $2.539 billion.

QV Senior Consultant, Simon Willocks said, “Strong demand for residential properties has pushed prices up beyond the levels established in 2014.”

“Taumarunui residential values have increased the most, with lower priced properties noticeably in high demand and driving up these levels beyond the averages. Owhango Township and some ageing and poorly maintained property types have baulked these increases.”

Residential average changes since 2014 and average Capital and Land Values

Total CV ChangeTotal LV Change2017 Average CV ($)2017 Average

LV ($)

National Park+12.8%+8.9%$242,783$79,438
Ohura+24.7%+38.0%$ 86,578$ 3,714

“Commercial and industrial properties have also seen improved values across the District although property type and quality are main criteria for value changes. The average capital value for developed commercial property is $522000 increasing by 5.0% since the last rating revaluation in 2014, and the average capital value for developed industrial property is $232,000 increasing by 7.7% over the past three years.

“Lifestyle properties have increased since 2014 with the average improved lifestyle property capital value increasing by 13.3% to $360,000 with the corresponding average land value for a lifestyle property increasing by 9% to $137,000.

Simon Willocks said, “The rural market has also seen a 15% increase across most farming types although traditionally poor performing manuka land has seen an upsurge in demand from apiarists.”

It is helpful to remember the effective rating revaluation date of 1 July 2017 has passed and any changes in the market since then won’t be included in the new rating valuations.

This means in many cases a sale price achieved in the market today may be different to the new rating valuation set as at 1 July 2017 and that rating valuations are not designed to be used as market valuations for raising finance with banks or as insurance valuations.”

The updated rating valuations are independently audited by the Office of the Valuer General, and need to meet rigorous quality standards before the new rating valuations are certified.

New rating values will be posted to property owners after 11 October, 2017.

If owners do not agree with the rating value they have the right to object. The objection close-off date is 17 November, 2017. To find out more about objection, or to lodge an objection online, go to www.ratingvalues.co.nz.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Why Big Spenders Are Not Our Tourism Salvation

Covid and climate change have been changing the face of tourism. That’s why it seemed oddly premature last week for Tourism Minister Stuart to announce that New Zealand isn’t interested in mass tourism any more, or in attracting the sort of budget visitors who “travel around our country on $10 a day eating two-minute noodles.” Instead, New Zealand aims to focus its marketing efforts on attracting wealthy, big spending tourists. “In terms of targeting our marketing spin,” Nash said, “it is unashamedly going to be at … High-quality tourists.” Really? The comments have raised a few eyebrows overseas, and a few hackles here at home. Nash’s comments have also been something of a gift to an Opposition adept at portraying the Ardern government as a bunch of liberal elitists out of touch with ordinary people...


National: Surgical Wait List Hits New Record
A new record has been set for New Zealanders waiting more than four months for surgery, National’s Health spokesperson Dr Shane Reti says... More>>

School Strike 4 Climate: Intergenerational Climate Strike On September 23rd
Once again School Strike for climate Ōtautahi (Christchurch) is asking all students to unite in a call to all council candidates to #voteclimate. Happening on Friday 23rd of September... More>>

Privacy Commissioner: Public Input Sought To Inform Privacy Rules For Biometrics
Privacy Commissioner Michael Webster is encouraging New Zealanders to have their say on the use of biometric information in Aotearoa New Zealand... More>>

Government: Wage Growth Best On Record
Workers’ have experienced their biggest pay hike on record, outstripping inflation. Stats NZ figures show median weekly earnings from wages and salaries jumped by 8.8 percent in the June year... More>>

Human Rights Commission: Urgent Government Action Needed To Support Renters’ Human Rights
An immediate freeze on rent increases could give renters some reprieve during the cost-of-living crisis says Te Kahui Tika Tangata, the Human Rights Commission... More>>

Government: Creating Sustainable Public Transport For All
Workers and public transport users are at the heart of the new Sustainable Public Transport Framework, Transport Minister Michael Wood announced today... More>>




InfoPages News Channels