Property revaluations are out

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8 October 2017

Notification of Rotorua property revaluations will be landing in letterboxes now and owners will be able to use a new interactive map this year to compare their valuations with those of others nearby.

The map, which is available on the Rotorua Lakes Council website, allows people to zoom in to particular properties and/or areas of the district and will also show recent house sales.

Click here to access online interactive map

Valuations are used for rating purposes, providing a uniform basis for levying rates, and the interactive map has been developed by Council to help people understand how valuations are calculated. An increase in valuation doesn’t necessarily mean there will be an increase in rates and the map will enable people to see how their valuation change compares to the average for their property type.

This may help people who are considering appealing their valuation.

Conducted by independent valuers, revaluations are required every three years and property owners will receive notice of their new valuations, which were completed earlier this year, during the next week or so.

This year’s valuations show an overall 32% increase in average property value for the Rotorua district with the biggest jump a 45% increase in residential values. The increases are reflective of a market which has been increasingly buoyant since mid-2015, Rotorua Lakes Council Chief Financial Officer Thomas Collé told members of the council’s Operations & Monitoring Committee at their meeting on Thursday [5 October].

Click on the image below to view key information regarding the 2017 property revaluations including a district overview, changes by category, sector movements and key trends. (Note: Opteon is the independent valuer used by Council to conduct this year’s revaluations)

To access the interactive map and for more information about valuations - including the process, answers to frequently asked questions and how you can appeal your valuation go to THIS LINK on Council’s website.

To view the video recording of the update provided to elected members on Thursday regarding revaluations  go to THIS LINK on Council’s YouTube Channel (Part 1 of the meeting recording) – 1hr57 into the recording.

 

Other Council updates from the Operations & Monitoring Committee hui

  • Affordable housing developments are being planned as work continues on various fronts to address housing availability, affordability and access in Rotorua. Elected members have received an update on Council’s Housing Action Plan. See THIS LINK to find out more.
  • A preferred option to repair Rotorua’s iconic museum will be progressed during the next few months following scoping and assessment of four options. An update went to elected members this week during the Operations & Monitoring Committee hui (meeting). Public feedback will be sought once options have been further developed and costed. See THIS LINK to find out more.

Thursday's Operations and Monitoring Committee meeting was livestreamed and can be viewed on Council's YouTube Channel. It was recorded in two parts.

Page reviewed: 07 Jun 2017 12:01pm