2018 Revaluation

Valuation Rolls

The Valuation Rolls for Grey District Council have been revised by Quotable Value Limited (as the Council’s valuation service provider).

You can read a press release about the three yearly revaluations here.

The revised Rating Values are effective as at 1 September 2018 and the new notices of valuation were posted to owners and ratepayers at the end of November. The District Valuation Rolls is open for public inspection, free of charge, during regular office hours, at the offices of:

Grey District Council, 105 Tainui Street, Greymouth

The revised values can be viewed until 18 January 2019.

Objections

Objections to the revised valuations must be lodged, in writing or online, no later than 18 January 2019:

ONLINE: http://www.qv.co.nz/ or www.ratingvalues.co.nz

WRITTEN: Objection forms are available from Grey District Council or Quotable Value Limited and should be posted to Quotable Value Ltd – Business Support, Private Bag 39818, Wellington Mail Centre, Lower Hutt 5045.

More information about “Understanding your Rating Value” can be found below and at www.ratingvalues.co.nz

Ian Young, Corporate Services Manager

Revaluation - important things you should know

All properties in the Grey District are being revalued this year. People can expect to receive the revaluation notice for their property from 28 November 2018. We have contracted QV New Zealand, our valuation service provider, to carry out the revaluations.

We know that there will be a lot of interest in this process and the results, so here are some of the key things you need to know about revaluation.

What are rating valuations?

Revaluation is a legal requirement that every Council in New Zealand must carry out. Grey District Council carries out revaluations every three years and uses these rating valuations for the purposes of calculating the rates each property is to pay.

Revaluation doesn’t mean that Council collects any more money from rates

Revaluation doesn’t affect the total amount of rates collected by Council but it does help us work out everyone’s share of rates.

Your rates are calculated using different charges to make up the annual levy, ie General Rates (calculated on land value), a Uniform Annual General Charge (set charge) and Targeted Rates (set charge for services such as refuse/recycling collection, sewer, stormwater etc). Your rateable land value is used to determine how much of the General Rate you pay in comparison to other properties in the District. What area of the District you live in and what the property is used for is also taken into account when calculating rates. More about how rates are calculated can be found here.

An increase in land value doesn’t necessarily mean your rates will increase

It is important to note that an increase in land value does not automatically mean that there will be an increase in rates. Broadly speaking, what will affect the amount of General Rates you pay following a revaluation is how your valuation moves in comparison to others in the district, ie has it increased more or less than the average?

What to do if you don’t agree with your new valuation

Once the revaluation notices have been issued, there will be an objection period where people who disagree with the new valuation can raise their concerns.

Timeline

28 November 2018Revaluation notices sent to ratepayers
18 January 2019Objection period ends
1 July 2019New valuations used for rating purposes

Revaluation won’t affect rates until July 2019

The new valuations will be used to calculate rates for the 2019/2020 rating year. Your current rates will stay the same until then.

You can also read this publication on the QV website, Rating Values: The Basics.

Last updated: 5 December 2018

Page reviewed: 05 Dec 2018 8:26am