News Release
Tuesday 13 May 2014
Three-yearly Rotorua property revaluations begin this month
Property inspections begin in residential areas of Rotorua this month as part of Rotorua District Council’s (RDC) 2014
programme to revalue all properties in the district for future rating purposes.
Valuation company Landmass Technology Ltd has been contracted by RDC to undertake the revaluations over the next three
months. Updated property value information will then be used by the council for calculating annual rates charges from
the start of the 2015/16 financial year.
Results from the revaluation project are expected to be made available to property owners in October this year.
Under legislation councils are required to revalue all properties every three years, the last having been completed in
2011.
Council chief financial officer, Dave Foster, said property valuations take into account a range of information,
including property improvements recorded on council property files and market information gleaned from recent property
sales statistics.
“To ensure the integrity of the information, valuation methods and processes are subject to the Rating Valuations Act
and are scrutinised by the government’s Office of the Valuer-General.
“When property owners are advised of their new rating valuations in October, they’ll have an opportunity to appeal their
new valuation and seek a review if they have any reason to believe the results aren’t a fair reflection of their
property’s value,” said Mr Foster.
The new valuations will not be used by the council for calculating rates until the start of the 2015/16 financial year,
and will remain in use for rating purposes for the following two years.
The revaluation process requires professional valuers to visit a selection of properties for external assessment but
does not involve internal inspections of properties.
Valuers working under contract to Rotorua District Council will carry identification at all times when visiting
properties.
ENDS