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A snapshot of property values

From City Scene, published on 25 November, 2007

Auckland City Council will start a citywide revaluation of properties next year. The revaluations are carried out every three years and help the council calculate what share of the city's rates each property owner should pay. An increase in value does not necessarily lead to an increase in rates. Valuations for rating purposes are based on sales and rental analysis, details held about the property, and roadside inspections. To understand how movement in property values may influence the valuation process, the council has created a snapshot of our city. It uses residential sales figures to indicate the likely average movement of values that people can expect when the full valuation process takes place.

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