The average value of residential properties in Stratford has increased by 22.2 per cent.
The boost in value follows a revaluation of the district's properties by Quotable Value Limited.
The total capital value of properties in Stratford has gone up 11 per cent which compares to an increase of 0.7 per cent three years ago when valuations were last revised. The revaluations show that lifestyle blocks have had a 13 per cent increase in value, forestry 30.8 per cent, industrial properties 11 per cent and dairy farms 8.2 per cent.
Stratford District Council acting director of corporate services Christine Craig says some people may be concerned that the increase in valuations will lead to an increase in rates.
She says the council requires a set amount of rates each year which is spread across the whole district and and although some ratepayers will have an increase, others will have no change or a slight change in their rates. A property's capital value is only used to calculate the general rate, roading rate and regional council rates. It has no bearing on fixed charges for water, solid waste and wastewater.
"I guess the main thing we want ratepayers to know is that it doesn't affect council's total rate take, it is just how it is spread across the district. If the value of your property increased by the average per cent increase then all charges based on the capital value will be unaffected.
"Those that have gone up by more than the average will see an increase in rates, similarly those that have gone up less in value will have a smaller increase in the rates set on capital value, or could even see a decrease."
Christine says the valuation of residential houses had increased so much due to supply and demand in the district. Houses were sought after and selling fast which may be related to the housing situation in Auckland and the flow-on effect this has had.
She says ratepayers are able to object to their revised valuations. To do so they must contact Quotable Value by February 9. Christine says some valuations may not reflect the value of renovations carried out at some properties. If an owner had not sought a consent from the council to do work there would be no record of improvements and its value will not reflect these improvements.
The District Valuation Rolls are open for public inspection at Stratford District Council offices. Objection forms from Stratford District Council or Quotable Value.