Valuation

Understanding your valuation notice

A. Notice of valuation

This is not a rates notice. It is advice of the assessment of the value of your property.

B. Ratepayer

This is the latest information we have about the ratepayer and owner of this property. If you no longer pay rates for the property for which this notice is issued, please contact us so that we can update our records.

Note: Under the Local Government (Rating) Act 2002, the owner may not be the ratepayer. Click here for more information.

C. Property location

This notice relates to the property at this address. Tell us if you have sold it or the address is incorrect.

D. Property description

This is the description of the property as it appears in the District Valuation Roll. If the description is not correct, or there have been changes, please complete the rating information database objection form.

E. Legal description

This is how your property is identified by Land Information New Zealand.

F. Valuation number

This is your property's number on the District Valuation Roll. Please quote it when making enquiries about your property.

G. Land value

The assessment of the probable price that would have been paid for the bare land as at 1 July 2008. It includes development work such as drainage, retaining walls and levelling, but disregards any buildings or other improvements to a property.

H. Value of improvements

The added value given to the land by any buildings or other structures and any landscaping.

I. Capital value

The assessment of the probable price that would have been paid for the property if it had been for sale on 1 July 2008. It includes the land value plus the value of buildings. It does not include chattels, or trees, unless the trees are fruit bushes intended for production.

J. Annual value

Auckland City Council uses the annual value rating system. The annual value is based on the higher of the estimated gross rent less 20 per cent (or 10 per cent for vacant land) or 5 per cent of the property's capital value. To assess the annual value we calculate the following:

The first calculation estimates how much the property could be rented for in one year, minus 20 per cent to cover normal property expenses (or minus 10 per cent for vacant land). For example:

Potential rent

$300 x 52 $15,600

Less 20% $3,120

$12,480
The second calculation takes 5 per cent of the property's estimated capital value - that is, the total value of land and buildings.
Estimated capital value - $260,000

5 per cent - $13,000

The annual value of this property is therefore $13,000 (in this case based on 5 per cent of the capital value).

K. Date of valuation

The effective date of valuation is 1 July 2008. The Valuer General approved the values before they were published.

L. Reason for notice

The reason for the notice is the three-yearly revaluation of Auckland city properties to apportion rates for Auckland City Council.

Updated October 2008