Councils are required to keep a rating information database and to 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 how rates are calculated.
The current district-wide valuations reflect property values as at 1 August 2017.
These are the property valuations that are used in calculating rates for the 2020/21 rating year, which ends on 30 June 2021.
New valuations for the Kāpiti Coast District were carried out in 2020 with an effective date of 15 August 2020, and these will be used in calculating rates for the 2021/22 rating year.
You can view your 2017 and 2020 valuations via our Property Search
If you have any queries regarding your revaluation, contact QV on 0800 786 822.
Note that that an increase in the rateable value of a property in the new valuation does not mean an equivalent rates increase for the 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.
Typically, where a property’s revaluation increase exceeds the average increase, the property will have a slightly higher rates increase than the average. Conversely, a property that has a revaluation increase below the average will have a slightly lower rates increase than the average.
Before rates will start to be based on the new valuations the Council will be looking at the impact of the revaluations on rates and affordability as part of our rating review. Following this, any proposed changes to how we spread rates costs across the district will be shared with the community for their feedback early in 2021. This would take place alongside community consultation on our draft long term plan.
- How are district-wide revaluations carried out? Watch QV’s video.
- Got questions? Check out the answers to common questions on new valuations.
- How have values changed across the district since 2017? Find out more.
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 have to be lodged with QV by 4 December 2020.
If you don'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.
Elements of a valuation
A rating valuation is based on the likely selling price of a property, excluding chattels, at a particular point in time (15 August 2020 for our new valuations). A property value is made up of three components:
The Capital Value (CV) is the value your property is likely to have sold for at the date of the revaluation, excluding chattels. The CV is also known as Government Valuation (GV) or Rating Valuation (RV).
The Land Value (LV) is the most likely selling price of the bare land at the date of revaluation. The LV includes any development work which may have been carried out, such as draining, excavation, filling, retaining walls, reclamation, grading, levelling, clearing of vegetation, fertility build-up, or protection from erosion or flooding.
Value of improvements
The Improvement Value (IV) is simply the difference between the LV and CV. It is important to note here it does not mean the replacement cost of buildings and services on a property.
The most common types of these improvements are:
- DWG - dwelling
- FLAT - ownership unit/townhouse
- OB - other buildings
- OI - other improvements
- FG - fencing
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 values that occur within the next three year period because of a subdivision of the property, a building consent or kitchen/bathroom improvements will be determined at the common date of 15 August 2020.