Rating valuations
A rating value (RV) is assigned to every property in Aotearoa New Zealand. It’s made up of the:
- Capital Value (CV) – the likely price the property would sell for at the time of the valuation, excluding chattels.
- Land Value (LV) – the likely price that just the land (minus buildings and improvements) would sell for at the time of the valuation.
- Value of Improvements – the difference between the property’s Capital Value and Land Value. It reflects the value any buildings and improvements add to the bare land.
Your rating valuation
To find out your rating valuation, you can:
- go to the property search on our website
- see your new valuation on our Property revaluations map
- go to Quotable Value to see the rating valuation and details about your property.
Councils must keep a rating information database, and keep it up to date by having properties in the district revalued at least every three years. The Council contracts Quotable Value (QV) to carry out these revaluations, to reflect changing market values.
Property rating valuations are one factor used by councils to distribute rates across the region. Find out more about the make-up of Council rates income.
You can also check out your current rates in our Property search.
Determining property rating valuations
QV valuers analyse recent sales and compare similar properties using technology and experience to determine a property’s rating valuation.
Because it’s not possible to view most properties in person, they may also inspect properties sold recently, and those where building consents show work has recently been completed. Many urban properties are also looked at externally to check the accuracy of the proposed value level.
The updated rating valuations are independently audited by the Office of the Valuer-General to ensure they meet rigorous quality standards before the new rating valuations are certified.
Revaluations
Revaluations for the Kāpiti Coast District have been carried out in 2023, reflecting values at 1 August 2023. They’ll be used to calculate rates from the 2024/25 year, which begins on 1 July 2024. Remaining rates instalments for the 2023/24 year will continue to be based on 2020 valuations.
QV will be sending information on new rating valuations to homeowners from 1 November 2023.
If you have any questions about your revaluation, contact QV on 0800 786 822.
The average house value in the district at 1 August 2023 was $810,000, an increase of 11.8 percent on capital values in the 2020 revaluation.
What revaluations mean for rates
An increase in rating values doesn’t increase Council’s rating income – so an increase in the rating valuation of a property doesn’t mean an equivalent rates increase for that property.
The total amount of rates collected by the Council each year are allocated across the community using a combination of land value, capital value and fixed charges, with differential rates applied in some cases. See our Annual Plan 2023/24 for more information.
Before rates will start to be based on the new valuations, Council will look at the impact of the revaluations on rates and affordability as part of our rating system review. We’ll then share any proposed changes to how we spread the rates requirement across the district with our community for your feedback; we expect this will be early in 2024.
If the percentage change in valuation is different for different types of properties, it can change the way that the rates revenue required by Council to deliver our projects and services is distributed among individual properties.
Typically, where a property’s revaluation increase is greater than the average revaluation increase, the property may have a slightly higher rates increase than average.
A property with a revaluation increase below the average may have a slightly lower rates increase than average.
The amount of money needed in rates is based on the funding we need to deliver services and projects to the district and is determined each year via the annual or long term plan process. These costs are then allocated across our district using a combination of land value, capital value and fixed charges, with differential rates applied in some cases.
A revaluation of property values throughout the district does not increase the amount of money we need through rates, but it can change how rates are shared out across our district if property values don’t increase by the same percentage.
|
2023 average capital value (CV)* |
CV increase since 2020 (%) |
2023 average land value (LV) |
LV increase since 2020 (%) |
|
|
Ōtaki Central |
$631,000 |
18.9% |
$317,000 |
27.3% |
|
Ōtaki Beach |
$596,000 |
10.5% |
$316,000 |
15.4% |
|
Ōtaki Rural |
$749,000 |
18.6% |
$421,000 |
27.6% |
|
Hautere/ |
$1,143,000 |
18.3% |
$560,000 |
25.0% |
|
Waikanae Beach |
$884,000 |
7.7% |
$539,000 |
10.0% |
|
Waikanae Garden |
$881,000 |
11.6% |
$460,000 |
15.2% |
|
Waikanae East/ |
$856,000 |
13.1% |
$398,000 |
20.0% |
|
Otaihanga/ |
$823,000 |
11.2% |
$462,000 |
15.2% |
|
Paraparaumu Central |
$703,000 |
8.3% |
$379,000 |
11.8% |
|
Paraparaumu Beach |
$857,000 |
12.7% |
$478,000 |
13.2% |
|
Raumati Beach |
$893,000 |
11.3% |
$522,000 |
15.2% |
|
Raumati South |
$856,000 |
12.2% |
$522,000 |
18.8% |
|
Paekākāriki |
$930,000 |
14.6% |
$602,000 |
25.4% |
*excluding chattels
|
2020 average capital value (CV)* |
CV increase since 2017 (%) |
2020 average land value (LV) |
LV increase since 2017 (%) |
|
|
Ōtaki Central |
$521,193 | 39.2% | $249,229 | 75.8% |
|
Ōtaki Beach |
$528,689 | 42.7% | $273,372 | 66.5% |
|
Waikanae Beach |
$801,776 | 25.8% | $491,115 | 44.5% |
|
Waikanae Garden |
$766,254 | 27.2% | $400,617 | 38.2% |
|
Waikanae East/ |
$739,839 | 31.4% | $331,588 | 35.2% |
|
Otaihanga/ |
$730,317 | 24.5% | $400,804 | 65.8% |
|
Paraparaumu Central |
$640,473 | 29.8% | $340,854 | 57.3% |
|
Paraparaumu Beach |
$751,075 | 27.2% | $420,408 | 50.2% |
|
Raumati Beach |
$788,733 | 24.6% | $453,115 | 44.8% |
|
Raumati South |
$747,271 | 27.5% | $435,911 | 50.1% |
|
Paekākāriki |
$803,534 | 35.5% | $477,200 | 41.7% |
*excluding chattels
Lodging an objection to your valuation
When you receive your new rating valuation notice, you should review your valuation. You can lodge an objection free of charge if you believe the valuation for your property is either too low or too high.
You can make an objection online at www.ratingvalues.co.nz, or by personal letter posted to QV. Contact QV on 0800 787 284 for further information.
You must lodge your objection by 14 December 2023.
If you miss objection deadline, QV will take your concerns into account on the next revaluation, or you can ask QV to do an urgent rating review without having to wait for another general revaluation. There is a charge for QV to do this. Any change in rating value will be used for rating purposes from the next rating year. For more information visit the QV website, www.ratingvalues.co.nz.
Keeping up with property improvements
The Council forwards details of building consents to QV at the time they’re granted. When the work is complete or near completion, QV inspects the property and amends the rateable valuation to account for the work. The ratepayer will receive a valuation notice from QV reflecting the revised rateable valuation.
If you've done major work on your home that didn't require a consent, for example some kitchen redecorating, you can contact QV at www.updatemyproperty.co.nz to have the improvements considered in the next general revaluation.
Any changes to the rateable value in the next three-year period due to a subdivision of the property, a building consent or kitchen/bathroom improvements, will be determined at the common date of 1 August 2023.