Services

Rating Valuations

Councils are required to keep a rating information database and to keep it up to date by having properties in the district revalued at least every three years.  The Council contracts Quotable Value (QV) to carry out these revaluations, to reflect changing market values.

Property rating valuations are one factor used by councils to distribute rates across the region.  Find out more about how rates are calculated.

Current valuations

The current district-wide valuations reflect property values as at 1 August 2014.

These are the property valuations that are used in calculating rates for the 2017/18 rating year, which ends at the end of June 2018.

New valuations

New valuations for the Kāpiti Coast District reflect values as at 1 August 2017.

The 2017 valuations will be used in calculating rates from the 2018/2019 rating year beginning on 1 July 2018.

New rating values will be posted to property owners by QV after 25 October 2017.  If you have any queries regarding your revaluation notice, contact QV on 0800 787 284.

You can also view your new valuation via our Property Search

If you don’t agree with your new valuation, you can lodge an objection, free of charge, until 8 December 2017.

Note that that an increase in the rateable value of a property in the new valuation does not mean an equivalent rates increase for the property.  The total amount of rates collected by the Council each year are allocated across the community using a combination of land value, capital value and fixed charges, with differential rates applied in some cases.

Typically, where a property’s revaluation increase exceeds the average increase, the property will have a slightly higher rates increase than the average. Conversely, a property that has a revaluation increase below the average will have a slightly lower rates increase than the average.

Before rates will start to be based on the new valuations the Council will be looking at the impact of the revaluations on rates and affordability as part of our rating review.  Following this, any proposed changes to how we spread rates costs across the district will be shared with the community for their feedback early in 2018.  This would take place as part of our community consultation on our draft long term plan.

Lodging an objection to your valuation

Property owners who do not agree with the updated rating value have the right to object, free of charge.

Property owners should review their valuation and lodge an objection if they believe the valuation for their property is either too low or too high.

You can make an objection online at www.ratingvalues.co.nz or by personal letter posted to QV.  Contact QV on 0800 787 284 for further information.

Objections to the new valuations must be lodged with QV by 8 December 2017.

If you don't meet the objection deadline, QV will take your concerns into account on the next revaluation or you can pay QV to do an immediate revaluation but the results cannot be used for rating purposes until the next rating year.

For more information visit the QV website, www.ratingvalues.co.nz.

Elements of a valuation

A rating valuation is based on the likely selling price of a property, excluding chattels, at a particular point in time (1 August 2017 for our new valuations). A property value is made up of three components:

Capital value

The Capital Value (CV) is the value your property is likely to have sold for at the date of the revaluation, excluding chattels. The CV is also known as Government Valuation (GV) or Rating Valuation (RV).

Land value

The Land Value (LV) is the most likely selling price of the bare land at the date of revaluation.  The LV includes any development work which may have been carried out, such as draining, excavation, filling, retaining walls, reclamation, grading, levelling, clearing of vegetation, fertility build-up, or protection from erosion or flooding.

Value of improvements

The Improvement Value (IV) is simply the difference between the LV and CV. It is important to note here it does not mean the replacement cost of buildings and services on a property.

The most common types of these improvements are:

  • DWG - dwelling
  • FLAT - ownership unit/townhouse
  • OB - other buildings
  • OI - other improvements
  • FG - fencing

Keeping up with property improvements

The Council forwards details of building consents to QV at the time they’re granted. When the work is complete or near completion, QV inspects the property and amends the rateable valuation to account for the work. The ratepayer will receive a valuation notice from QV reflecting the revised rateable valuation.

If you've done major work on your home that didn't require a consent, for example some kitchen redecorating, you can contact QV at www.updatemyproperty.co.nz to have the improvements considered in the next general revaluation.

Any changes to the rateable values that occur within the three year period because of a subdivision of the property, a building consent or kitchen/bathroom improvements will be determined at the common date of August 2017.

Related Links

Property Information 
Property/Rates Search

Property