Every three years Ōpōtiki District council has a legal requirement to value all properties in the District. The last rating revaluation was in 2016 so Council advises a new one is now due and is being carried out by Quotable Value (QV) in September.
QV are an independent valuation company and are audited by the Valuer General. They use recent property sales data, resource/building consent and survey data along with carrying out sample inspections to establish an updated view of values across the District. During this process some property owners may be contacted directly by QV.
The new rating valuations will be used to help set the Council's rates next year. Revaluation doesn't affect the total amount of rates collected by Ōpōtiki District Council, but it does help Council work out everyone's share of rates, which is based partly on capital value.
Rating valuations can also be a useful guide for property owners and prospective purchasers to use as a starting point to determine the current market value of a property, as they are based on the local property market at a fixed point in time. However, the valuations are prepared using rating methodology and are for rating purposes. They are not prepared on the same basis as a private registered valuer's report.
Valuations will be calculated and notices will be posted to property owners by QV, from November 14, advising of the new value.
Owners who do not agree with the new rating valuation have the opportunity to object and lodge their objection with QV before January 15, 2020. Objections are received via an online submission to QV. Full information on lodging objections will be available on our website from 14 November.