Scoop has an Ethical Paywall
Licence needed for work use Learn More

Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 

Steady Stable Growth In City's Rating Base

Auckland City Council - City Scene

Auckland City's new property valuations show steady growth without the spectacular rises and falls evident when the city was last revalued, in 1997. The Capital Value of all property in Auckland City has increased from $50.8 billion to $63.6 billion in the past three years.

Annual Value, which Auckland City uses to apportion rates, increased from $3.04 billion to $3.78 billion.

Notices of Valuation will be posted to all Auckland City property owners next Monday, November 15. In the meantime, the Valuation Rolls have opened for inspection at the Auckland City Environments office at 35 Graham Street and on the ground floor of the Civic Administration Building at 1 Greys Avenue.

Chairperson of Auckland City's Finance and Property Committee, Councillor Kay McKelvie, says that citywide, residential values increased on average by 3.58%, non-residential properties by 9.9% and CBD non-residential by 5.14%. CBD residential property values were weak, showing decline in some cases, while Waiheke Island values were relatively strong.

She says an increase or decrease in a property's Annual Value does not automatically mean people's rates will be affected by the same percentage.

"The total rates revenue required by the council is determined by the Annual Plan process. The rate per dollar of Annual Value, needed to produce that revenue, is then set accordingly."

Councillor McKelvie says property owners will have until December 17 to object to their valuation.


Advertisement - scroll to continue reading

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 
 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.