Tauranga property owners to receive property revaluations in January

Citywide property revaluations are now expected to be available in January. Photo / George Novak

Property revaluations have been further delayed for Tauranga homeowners.

A written statement issued by Tauranga City Council says revaluations are being audited and were now expected to be delivered in January.

They are usually sent out in November. Last month, the council said they would be delayed until the end of December, blaming the Covid-19 lockdown for the wait.

The council said today there were no "flow on" impact of the delay as updated revaluations will not affect rates until July 1.

"The council will still be able to determine its rates distribution for the Annual Plan 2022/23."

It said property revaluations take place every three years to reflect changing market values and were independently audited by the Office of the Valuer-General. The last revaluation took place in 2018.

The new revaluations will be used to calculate rates for the next three years, starting on July 1.

"The Officer of the Auditor-General is stepping through the audit process with council's valuers before releasing the audited valuations"

Updated notices were expected to be sent out to property owners from mid-January 2022.

Early figures showed residential value increases of up to 60 per cent, Opteon regional director Avella Collopy said last month.

In residential property, capital value increases of 40-60 per cent were observed at the lower end of the market, with mid-value properties up 30-40 per cent.

But at the top end of the market, value increases were in the 20-30 per cent range, with the exception of Matua, Mount Maunganui and Pāpāmoa, which were up 40-60 per cent.