New rating valuations underway for Queenstown Lakes District
Work is well underway on Queenstown Lakes District’s latest general property revaluation with an expected delivery date of the first quarter of 2025.
New three-yearly rating valuations are being prepared for every property in the district. The revaluations are being undertaken by independent valuers Quotable Value (QV), with new values being processed for every property based on its most likely selling price if it had sold on 1 September 2024.
The new rating valuations, which are due to be sent out to property owners after they are thoroughly audited and certified in March, will provide Queenstown Lakes District Council with an equitable basis for setting rates for the following three-year period, starting from 1 July 2025.
QV South Island Revaluation Manager Melanie Halliday said rating valuations were carefully calculated utilising all recent local property sales. “We have also visited a large number of properties throughout the Queenstown Lakes District, particularly those that have been issued building consents in the last three years.”
“Following careful analysis of all the data by our team of expert property valuers, the updated rating valuations will be independently audited by the Office of the Valuer General to ensure they meet rigorous quality standards, before the new rating valuations are confirmed and eventually posted to all property owners.”
Rating valuations are usually carried out on all New Zealand properties every three years. They are not intended to be used for any other purpose besides helping councils fairly allocate rates, including raising finance with banks or as insurance valuations.
If property owners do not agree with their new rating valuations, they have a right to object through the objection process, which commences for approximately six weeks from when the new rating values are issued. These details will be posted with all Notice of Rating Valuations once the revaluation has been completed and certified.
In the meantime, property owners can find out more about rating valuations at https://www.qv.co.nz/about/about-rating-valuations/
