Property revaluation

As property values are always moving we need to update our rates distribution to maintain fairness. The aim of the property revaluation is not to provide values for property owners to use for marketing, sales or any other purposes.

We compare recent sales in the area with the property being valued. A zoning change under the unitary plan may affect a value if it changes the way a property:

• can be developed, such as housing intensification
• how it is used, such as a change from a residential to a business zone. 

Our valuers work with independent organisations to determine the values. The Valuer-General audits these values to ensure accuracy.

• Property type
• Location
• Land size
• Zoning
• Floor area
• Consented work (renovations, new build, subdivisions etc.)

CV refers to the most likely selling price at the date of valuation. The CV is also known as Government valuation (GV) or Rateable value (RV).

The most likely selling price of the vacant land at the date of valuation.

The added value of improvements to the vacant land. This is calculated as CV minus LV. The IV is not an assessment of the replacement cost and should not be used for insurance purposes.

Yes, you have 40 days from the date of the letter notifying you of the valuation, during which you can object. The objection will need to be lodged through the QV portal.

You can rest assured that if your value changes as a result of your objection, we will backdate the changes to your rates accordingly.