Property Valuations

​​​​​​

Property valuations are used to work out property rates in the Ashburton District. A rating valuation is based on the likely selling price (market value) of a property (excluding chattels) taken at the time of your local council's last general property revaluation. Find your property rates or valuation.​​​​​​​​​

General property revaluations​

A general property revaluation is a mass appraisal ​​of properties used to work out property rates. ​We revalue properties in the Ashburton District every three years. It is a legal requirement.​ Our last general revaluation was in 2015, and our next revaluation is now taking place in 2018. Our valuation service provider, Quotable Value (QV), is completing our 2018 revaluation. You can access their full schedule ontheir website​.

The revised Rating Values are effective as at 1 July 2018 and the new notices of valuation will be posted to owners and ratepayers from 26 September 2018. The district valuation rolls are open for public inspection, free of charge, during regular office hours at the Ashburton District Council. You can also view the valuation rolls here.

These valuation rolls can be viewed until 1 November 2018.​

Your rating valuation is made up of three components:

  • Capital Value (CV) - this is what your property is likely to have sold for at the date of your local council’s last general valuation, excluding chattels. The CV is also known as the Rateable Value (RV), and was previously known as the Government Valuation (GV).

  • Land Value (LV) - the most likely selling price of the bare land at the date of your local council’s last general revaluation.

  • Value of Improvements (VI) - this is just the difference between the land value and the capital value. It’s important to note here it does not mean the replacement cost of buildings and services on a property.​​​​​​​​

​A change in your property's capital value doesn't mean that your rates will automatically change. We will not know until the start of the new rates year (1 July) how your new property value will impact your rates - if at all. Find your property rates or valuation here.​​

​​​​Objecting to your valuation

If you disagree with your new valuation, you can object to the valuation of your property. To make an objection, you must be a ratepayer and provide a reason why you are objecting. You can object if you think the valuation is incorrect, but not because of the effect a valuation has on your rates.

It is important to remember that not all properties change value in the same way, and there are many factors that can affect the value of a property such as its location, size and age.

If you disagree with your new valuation, you now have until 1 November 2018 to lodge an objection in writing or online at www.qv.co.nz​. Objection forms are available from Ashburton District Council or Quotable Value, and should be posted to:

Quotable Value - Business Support
Private Bag 39 818
Wellington Mail Centre
LOWER HUTT 5045

If you don't make an objection during this time, you will have to make a late objection. We accept late objections in special circumstances, such as if you are outside of the country during the objections period. We may ask for proof of your reason for the late objection, and can reject your late objection if you don't give us a valid reason for lateness. 

Frequently asked questions

​​​​​​​How are our Rating Values calculated?

​​Quotable Value’s qualified Property Consultants combine their own experience and the latest technology to calculate a Rating Value. They’ll take into account all factors influencing a property’s likely selling price, such as the property’s size, features and recent refurbishments.  QV also take into account the value of similar properties recently sold in the local area. Given the vast amount of properties in New Zealand, we are unable to view every single property in person, so we utilise a range of tools to produce the rating value.

​​​​​​​​​Who does rating valuations?

Revaluations are carried out either directly by your local council or on their behalf by a valuation service provider such as Quotable Value (QV). Rating valuations are just one of a number of factors councils use to allocate rates.

If my local area has just had a rating revaluation, when will my new rating valuation start to apply?​

Any change to your Rating Value will not apply until 1 July of the next rating year.

How are property owners notified of new rating values once a council revaluation is complete?​

Our valuation provider, Quotable Value, will send out owner’s notices to let you know your new Rating Valuation. For the 2018 Revaluation, QV plan to send out all owners notices by mid-September 2018.

What should I do if I disagree with the new rating value of my property?​

If you feel your property’s new rating value doesn’t reflect your property’s market value (as at the date of your local council's last rating revaluation), you have the right to object.

The closing date to lodge an objection to your new rating value is outlined on your owner's notice.​

​What is the objection process?​

Objections are part of the valuation process because they give property valuers the opportunity to assess individual factors that they may not have been aware of and therefore had not considered as part of the value assessment i.e. work on property not requiring a building consent such as kitchen or bathroom renovations.

As part of this process, a QV staff member will physically inspect your property and you’ll receive an owners notice shortly after to inform you of the decision made regarding your property’s rating valuation. ​

Are there any time restrictions on making an objection?​

Yes, there is an official objections period. Check your owners notice. It is approximately six weeks from when the new rating values are released.

How do I make an objection to my rating value?​

You can make an objection online, or by posting a personal letter to QV (their contact details are provided here). Click here to understand how this process works.

I want my current Rating Valuation reviewed, but the objections period has passed. What should I do?​

In this case, you’re best to request an Urgent Review of your Rating Valuation. This suits people who have recently completed renovations that are likely to have a substantial impact on your current Rating Valuation. You can also use this service if you simply disagree with your current RV.

With this service, a QV staff member will physically inspect your property and make a decision as to whether your Rating Valuation is accurate. Shortly after, you’ll receive an owners notice informing you of the decision made.

Remember, if you’ve refurbished or renovated your property, but the work hasn’t required a Building Consent - for example a new kitchen, bathroom or deck – QV or Council won’t be aware of this unless you have informed them of the change.

I've recently completed renovations on my property (that didn't require a building consent) and I want to make sure my local council (and Quotable Value) is aware of this before the next rating year.  What should I do?

The best way to do this is to use Quotable Value’s UpdatemyProperty service. This is where you provide us and our valuation service provider with information on your renovations.

Once Quotable Value are made aware of any renovations completed, your valuation will be updated prior to the next rating year, so it’s important ratepayers use this service to keep their rating value up-to-date and accurate. ​

​​How are rating valuations different to full market valuations?​

Rating Valuations are different as they reflect the likely selling price of a property (excluding chattels) at the time of your local council's last revaluation date. Whereas a full market valuation represents the valuation of the property on the date the property was inspected. Rating Valuations are also completed with the purpose of setting council rates.

A full market valuation will offer a more comprehensive assessment of the current market value of your property. With this service, a registered Valuer will visit your property and complete a full inspection of the property interior and exterior, as well as analysing recent sales in your area in order to provide you with the current valuation. They are completed to help guide property owners around the likely selling price of their property before it's put out to market.

I am about to sell my property and I want a good estimate of the market value of my property. What information is most suitable?​

As described above, a full market valuation would provide the most accurate, comprehensive and up-to-date measure of your property's current value. QV offers this service to property owners across New Zealand.  

A Rating Valuation is completed with the purpose of setting council rates although they can provide a good indication of the likely selling price as it was at the time of your local council's revaluation period.

I have re-roofed my property recently. Does my rating value need to be updated?​

This may not affect the rating value, as every home requires a certain amount of maintenance to keep the home in good working condition. Not all maintenance ‘adds value’ to your property, however a potential buyer would probably view your property in a more positive light as they won’t need to re-roof for another 30 years or so.

If you feel the change may have a substantial impact on your rating value, you can request an Urgent Review of your Rating Value.

What happens if my real estate agent has told me that my rating value is too low and it should be updated?

All property owners are entitled under legislation to pay to have their rating value reviewed, however any new property valuation must comply with the rules stipulated in the Rating Valuations Act 1998. ​

The primary purpose of a rating valuation is to assist your local council with the allocation of rates therefore, any new property valuation must ‘preserve uniformity with existing roll values of comparable parcels of land’. To explain this simply, if your property is one of five identical properties, they should all have a similar rating valuation.​​​​

Why is my rating valuation lower than my neighbours, particularly as I have been inside their property and I think that mine is better?

A lot of work can be done to a property that doesn't require a building consent. In these instances, unless the owners have contacted QV to tell us of these changes, it is unlikely that we will know about them. This includes improvements such as modernising a kitchen or bathroom, redecorating, landscaping and much more.

Remember, you can keep us up-to-date with any improvements you make to your property using our Updatemyproperty service. You can also request an Urgent Review of your Property Valuation if you feel your current rating value isn’t fully accurate.​

What do I need to do if I have just completed an extension to my property and would like my rating value to be updated?

When you complete work requiring a building consent or a subdivision, we’ll automatically inform our valuation service provider – Quotable Value. This is followed by an inspection of your property by QV when they are next completing valuations in your area, once the construction is complete. Please note, this could be up to 3-6 months into the future.

If you would like your rating valuation reviewed urgently, you can pay to have a valuer come out at your convenience and time frame.​

What happens if I pay for a rating valuation review and my value doesn't change?​​​​​​​

Owners are entitled to lodge an objection to the review decision if received within the specified time frame and manner required. QV may require another valuer to re-inspect the property and provide a ‘second opinion’ on the value of the property. A decision will be forwarded to the owner in due course.

Related topics

Ways to pay your property rates

Request a report on the information Council has on a property (LIM)

View our property maps​​​​​​​​​​

Page reviewed: 20 Sep 2018 10:16am