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 is used to calculate your rates.
The current rating values are a reflection of what a seller might have expected 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. We do not collect more rating income as a result of increased property values or less rating income if values decrease.