Every three years we are required to revalue all the properties in the Waikato district. We employ Quotable Value Ltd (QV) to undertake this process and the new rating value will be used to calculate your rates from the start of the next rating year, from 1 July 2018.
All property owners can expect to receive notification of the revaluation of their property in late October and will have until late November to lodge an objection.
The rating value is a reflection of what a seller might expect to receive if they sold the property at the time of the revaluation (1 July 2017) excluding chattels (eg. furniture, personal items). A change in your rateable value does not mean rates for your property will change by a similar percentage.
The rating valuation is only one part in determining the total rates you will pay. Waikato District Council does not collect more rating income as a result of increased property values or less rating income if values decrease.