Rating valuations
A rating value (RV) is assigned to every property in 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) 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.
To find out your property valuation, you can:
- go to property search on our website
- call us and we can confirm the new valuation amount over the phone
- go to Quotable Value, and order a copy of a valuation for your property. Note that Quotable Value will charge you for this.
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 about rates.
You can also check out your current rates in our Property search.
Determining property rating valuations | Current valuations | Lodging an objection to your valuation | Keeping up with property improvements |
Determining property rating valuations
QV valuers analyse recent sales and compare similar properties using technology and experience to determine a property’s rating value.
Because it’s not possible to view for 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.
Current valuations
New valuations for the Kāpiti Coast District were carried out in 2020 with an effective date of 15 August 2020, and have been used to calculate rates from the 2021/22 year. The next districtwide revaluation is scheduled for August 2023..
You can view your 2017 and 2020 valuations in our Property search.
If you have any questions about your revaluation, contact QV on 0800 786 822.
An increase in property values doesn’t increase Council’s rating income – so an increase in the 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 Explaining rates for more information.
The average house value in the district as at 15 August 2020 was $711,465, an increase of 29 percent on capital values in the 2017 revaluation.
Kāpiti Coast residential property values – Residential value changes at 15 August 2020
|
|
Total CV Change % |
Total LV Change % |
2020 |
2020 |
|
Ōtaki Central |
39.2 |
75.8 |
$521,193 |
$249,229 |
|
Ōtaki Beach |
42.7 |
66.5 |
$528,689 |
$273,372 |
|
Waikanae Beach |
25.8 |
44.5 |
$801,776 |
$491,115 |
|
Waikanae Garden |
27.2 |
38.2 |
$766,254 |
$400,617 |
|
Waikanae East/Hemi Matenga |
31.4 |
35.2 |
$739,839 |
$331,588 |
|
Otaihanga |
24.5 |
65.8 |
$730,317 |
$400,804 |
|
Paraparaumu Central |
29.8 |
57.3 |
$640,473 |
$340,854 |
|
Paraparaumu Beach |
27.2 |
50.2 |
$751.075 |
$420,408 |
|
Raumati Beach |
24.6 |
44.8 |
$788,733 |
$453,115 |
|
Raumati South |
27.5 |
50.1 |
$747,271 |
$435,911 |
|
Paekākāriki |
35.5 |
41.7 |
$803,534 |
$477,200 |
Lodging an objection to your valuation
Property owners should review their valuation and lodge an objection if they believe the valuation for their 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.
Objections to the new valuations needed to be lodged with QV by 4 December 2020.
If you didn't meet the objection deadline, QV will take your concerns into account on the next revaluation, or you can pay QV to do an immediate revaluation but the results cannot be used for rating purposes until 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 15 August 2020.