Rating valuations to begin this month

FILE

Property inspections begin in residential areas of Rotorua this month as part of Rotorua District Council's programme to revalue all properties in the district for future rating purposes.

Valuation company Landmass Technology has been contracted by the council to undertake revaluations over the next three months.

Updated property value information will then be used by the council for calculating annual rates charges from the start of the 2015/16 financial year.

Results from the revaluation project are expected to be made available to property owners in October.

Under legislation, councils are required to revalue all properties every three years.

Council chief financial officer Dave Foster said property valuations took into account a range of information including property improvements recorded on council property files and market information gleaned from recent property sales statistics.

"To ensure the integrity of the information, valuation methods and processes are subject to the Rating Valuations Act and are scrutinised by the government's Office of the Valuer-General.
"When property owners are advised of their new rating valuations in October, they'll have an opportunity to appeal their new valuation and seek a review if they have any reason to believe the results aren't a fair reflection of their property's value," Mr Foster said.

The revaluation process requires professional valuers to visit a selection of properties for external assessment, but does not involve internal inspections of properties.

Valuers working under contract to the council will carry identification at all times when visiting properties.