Lower Hutt property owners will soon receive an updated rating value for their property, with the average residential dwelling (a standalone dwelling on a separate title) dropping in value by 10.9% to $780,000, compared to 2022.

The entire residential sector (including units, apartments, and vacant land) has decreased by 11.2%, which reflects the changing housing market across Aotearoa.

Hutt City Council Chief Executive Jo Miller says it’s important to understand that a change in your property’s rating value doesn’t translate directly into the same change in your rates.

“What matters is how your property has moved compared with the citywide average. If your property’s value has dropped more than the average change, your share of general rates may be smaller. If it has not decreased as much as the average change, your share may be larger,” she says.

“The revaluation does not change the total amount Council collects from rates.”

Rating revaluations are required by law to be reviewed every three years for all New Zealand properties. Local councils use rating values to set rates for the following three-year period. For Hutt City Council, this valuation is a snapshot of the market on 1 August 2025. The last valuation was completed in 2022. 

The new rating valuations have been independently prepared for 43,577 properties and assets by Quotable Value (QV) on behalf of Hutt City Council. This shows the total rateable value for Lower Hutt has decreased by 7.0% since 2022 to $39.3 billion.

Commercial property values have on average decreased by 6.8%, while industrial property values have dropped by 9.0% since 2022.

QV Chief Operating Officer and Registered Valuer David Nagel said the 2022 revaluation represented a market that had cooled off from a tremendous period of growth in 2021.

"Since 2022, Wellington property values have been on a downward trend and activity has been very subdued,” he said.

New rating values will be sent to property owners from today (17 December). Anyone who does not agree with their rating valuation has the right to object before 5 February 2026. The updated rating valuations will be used to calculate rates from 1 July 2026.

Anyone facing difficulties in paying their rates is encouraged to get in touch early. You may qualify for a rates rebate, a payment plan, or postponement options.

For more information, including a map showing changes by suburb, and a video that explains revaluations and how that affects your rates, visit hutt.city/revaluation.

Note: 

The updated rating valuations are independently audited by the Office of the Valuer-General and must meet rigorous quality standards before certification. They are not intended to be used as market valuations for lending or insurance purposes.

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