Glossary of Rates Terms

​​Business Purpose
Means any purpose of commerce, trade, or industry; but does not include any farming purpose.

Capital Value
This is the valuer’s assessment of the probable price that would have been paid for the property in an arm’s length transaction, (e.g. willing buyer, willing seller) if it had been for sale at the date of the general revaluation. However the capital value of a property does not include any chattels, stock, crops, machinery, goodwill or plantation trees.

Farming purpose
Means used for agricultural, horticultural or pastoral or forestry purposes, or the keeping of bees or poultry or other livestock.

Land Value
This is the valuer’s assessment of the probable price that would have been paid for just the land in an arm’s length transaction, (e.g. willing buyer, willing seller) if it had been for sale at the date of the general revaluation.

The land value will include any development work which may have been carried out, such as drainage, excavation, filling, construction of retaining walls, reclamation, grading, levelling, clearing of vegetation, fertility build-up, or protection from erosion or flooding.

Property
Means, either the part or the whole of any rating unit (as the case may be) used for a particular purpose. (Explanatory note: The intention is that where different parts of a property that constitute a rating unit are being used for different purposes, they may be rated differently).

Residential purposes
Means occupied or intended to be occupied for the residence of any household, being a residential unit, including holiday homes that may be let for short-term periods not exceeding 100 days per annum.  Kaingaroa Village on rating unit 07010 514 01A will be treated as entirely “residential” for all rates within this funding impact statement even though it comprises elements of other categories.

Ratepayer
The owner is the ratepayer, unless the owner can prove that there is a lease in place that meets the statutory definitions for the lessee to be the ratepayer (e.g. registered lease or licence for entire rating unit for minimum period of ten years, and agreement states lessee/licence holder is to be entered on the Rating Information Database as ratepayer –refer Section 11, Local Government (Rating) Act 2002).

Rural Sector
Means the part of the Rotorua District which is not the Urban Sector.

Urban Sector
Means the area as shown on the map titled Rotorua Urban Rating Boundary (Map L) and contained in the rating maps section of this funding impact statement (a larger copy is available at the Council Civic Centre). The boundary has been set to recognise the urban growth trends and where properties have similar access to services (but not necessarily the same). This boundary will be reviewed from time to time as necessary to accommodate changes to the above, and follows rating unit boundaries rather than dissecting properties.

Utilities
Being all rating units situated within the Rotorua District that have been identified by the Valuer General as infrastructure utility networks.

Vacant Land
Means land which is in an undeveloped state and is not being used or occupied for any purpose.

Value of Improvements
This is the difference between the capital and land values. It reflects the additional value given to the land by any dwellings, buildings, other structures or cropping trees and vines present on the property, plus any landscaping that adds value to the land.

Valuation Service Provider
The Valuation Service Provider is the company appointed by a council to conduct it’s three-yearly revaluations, plus keep the District Valuation Roll up to date with changes due to sub-division, new building work, etc. Rotorua Lakes Council’s current Valuation Service Provider is:

Opteon Technologies Limited
P O Box 169
Tauranga
P: (07) 571 8593

Zoned
Means zoned in accordance with the operative Rotorua District Plan.

 
 
 
Page reviewed: 03 Jul 2019 10:13am