Council to advise new rateable values next month

19/08/2015 8:30 a.m.

Ashburton District Council will be posting ratepayers their new rateable valuation mid next month following the recent revaluation of the district's 15,059 rateable properties by Quotable Value.

Properties' new rateable values became effective on 1 July this year however property owners are advised that the revised value will not be used for rating purposes until 1 July 2016. 

Once the Council has posted the new valuation notices to property owners on 16 September, they have until 29 October 2015 before the official objection period closes.

Council's Finance Manager Sandy Hogg says as the owner of the district's valuation roll, Council has a responsibility to fulfil the triannual revaluation of all rateable properties in accordance with the Rating Valuations Act 1998 and the Rating Valuations Rules 2008.

"Quotable Value's assessment of the district's rateable properties has been carried out following a 'mass-appraisal' approach which is used all over the world and takes into consideration a property's individual attributes, as well as local sales. 

"Stringent quality standards must be met when carrying out the revaluation process which is then independently audited by government department, the Office of the Valuer-General.

"We expect the revaluation process to be completed by Quotable Value later this week and property owners can expect to receive a notice of their new rateable value in mid-September," says Mrs Hogg.

Page reviewed: 04 Sep 2015 11:40am