Rates: General Revaluation Results available
Over September and October 2018 Quotable Value completed a revaluation of all properties in the district.
We're getting the new valuations information entered into our online rates lookup system as quickly as possible. We apologise for the delay. In the meantime, you can find your new values in two ways.
- Email or call (03 319 5026) our rates team with your property address and they'll tell you the new values
- Look up your new valuation using your valuation ID/VG number in an excel spreadsheet here
- NOTE: You can find your valuation ID/VG number on your rates bills or by looking up your 2018 rates here.
Property owners should also receive a revaluation notice in the post in early November that will list their new values.
Property owners have until 6 December 2018 to object to the new value by contacting Quotable Value Ltd.
Under NZ law, Council is required to carry out an assessment of the capital value of properties in the Kaikōura District every three years.
The graph on this page shows the general trend of property prices in Kaikōura, compared with the national average.
Key findings of the revaluation include:
- Some properties have received significant value reductions as part of the 2018 general revaluation to reflect their current damaged condition.
- Demand for residential properties has increased significantly shown by a high number of sales and upward pressure on property prices.
- Motels generally show growth but average overall values reduced due to some having unrepaired damage
- The lifestyle market is steady, with majority of demand close to Kaikōura town - the average Capital Value of developed lifestyle property is up 3.1% to $570,000 , the average lifestyle block land value is up %.6% to $285,000.
- The rural market is mixed, dairy farm showed – 5.1% capital value reduction and 5.3% land value reduction, but pastoral capital value increased 8.8% on average
The new (2018) values will be used for rating purposes from 1 July 2019.
Generally, if your property value has increased/decreased more than the averages for the District, your rates will change as a result of the revaluation. If your property value only changes as much as the average change across the District, your rates are unlikely to change much under the current model.
Council will consider the revaluation results as part of the planned rates review in 2019. The goal of the rates review is to make sure our rating model is fair and having the best information possible about property values is a key part of that.