QV calculates RVs by analysing the councils' data on properties in your area. Our valuers may inspect residential properties sold recently and those where building consents show work has recently been completed.
We also compare and contrast similar properties using technology and experience to determine a property's updated rating value.
Rating values are independently audited by the Office of the Valuer General. Rigorous quality standards need to be met before a revaluation is confirmed.
The QV House Price Index figures show in that three-year period since the last rating revaluation in the Auckland region, the average value has risen 40 per cent from $720,426 in July 2014, to $1,044,303 in July 2017.
Auckland property owners will receive notification of their new rating values in early November.
If a rating value has changed, that doesn't necessarily mean that your rates will change, it depends on
Auckland Council's requirements and how rating values have changed over the rest of the area.
Something many people forget is that the rating value of a property willrelate to market value only at the time it is set.
That is why an RV should not be used as a guide to what your property will sell for on the market anytime thereafter as it is designed only for rating purposes.
You can looks up sales in your area on QV.co.nz for your area, at any time. For more information visit qvgroup.qv.co.nz/rating-values.
You will have the chance to object to your new RV if you believe it doesn't reflect your property's market value as at
July 1, 2017. Details will be included in your revaluation notice.
You can research local area sales and other property information on QV.co.nz or on the QVhomeguide app that you can download on Apple or Android devices.
The effective date of your rating value will be July 1, 2017 and that is the date that your home's rating value was re-assessed.
However, your council will not be using the new values for rating purposes until July 1, 2018.
