The value of property in the Stratford District has decreased 5.9 percent in capital value and 5.2 percent in land value to a worth of 2.7 billion on the 2008 Stratford District Council valuations.
The capital value of properties across all sections have decreased, while the land values have increased
slightly, except in the dairy category, where it is down 10.9 percent on 2008, as shown in the latest property revaluations brought before the council by QV on Tuesday.
The dairy sector has also seen the most dramatic movement in capital value change -10.7 percent. Residential property land value has however, increased by 11.2 percent, and lifestyle sections are up by 8.6 percent.
The average capital value of industrial property is down 7.5 percent to $445,184 and the average land value up 0.4 percent to $81,764, while commercial property's capital value on average has dropped a slight 0.1 percent to $332,147 and capital value rose 2.2 percent to $90,733.
Dairy land is down 10.9 percent in land value to $1,653,079 and 10.7 percent in capital value to $1,895,480, while lifestyle property's land value rose 8.6 percent to $195,099 and capital value 0.5 percent to $344,867.
``Since the last revaluation in 2008, property values fluctuated before reaching a peak in early 2010. The rest of 2010 then saw a decrease in values before starting to rise again during 2011,'' says Richard Allen, QV operations manager.
Stratford district residents will shortly receive their updated rating value, which will reflect the value of property (excluding the chattels) as at September 1.
Owners will be sent out their new rating valuations by post in the beginning of November. ``The relationship between rates and rating values is not simple. If you believe that yours is not accurate, you should object. The objection close date for Stratford District Council is the December 15. You can object online at QV.co.nz or call
0800 787 284.
