Upper Hutt property owners will soon receive a Notice of Rating Valuation with an updated rating value for their property.
Rating valuations are carried out on all New Zealand properties every three years to help local councils set rates for the following three-year period. For Upper Hutt City Council, this valuation is a snapshot of the market on 1 July 2022. The last valuation was completed on 1 August 2019.
The new values will be based on the most likely selling price if the property had sold on the valuation date, which was 1 July 2022. The 1 July 2022 valuation is used for determining an equitable share of rates across property owners. Rating valuations are not intended to be used as market valuations.
The amount of rates income needed for each year is set through the Annual Plan process. Indicative rates for 2023 – 2024 will be published once the plan is adopted at the end of June 2023.
The new rating valuations have been independently prepared by Quotable Value (QV) on behalf of the Upper Hutt City Council and audited by the Office of the Valuer General. Based on the 1 July 2022 valuation date, the total rateable value for Upper Hutt has increased 39.4% since 2019.
It’s important to note that a change in the capital value of a property doesn’t mean a property’s rates bill will change by a similar percentage. The change in an individual property’s rates bill depends on how the property’s value has changed in relation to the average change across the whole city.
Media release from QV
Click to read the media release from QV(PDF, 135KB)
Notices of Rating Valuation will soon be posted to property owners which can be expected to arrive from 1 February 2023. If owners don’t agree with the new rating value, they can lodge an objection directly with Quotable Value, any objection must be submitted to Quotable Value before 9 March 2023. Instructions for lodging an objection are included on the back of the Notice of Rating Valuation.
We'll include a General Revaluation 2022(PDF, 258KB) flyer with the notice that provides a bit more detail on how valuations work with regards to rates.
Difficulty with paying rates?
If you are having difficulty paying rates you might be eligible for a rates rebate, postponement of your rates, or we can work with you to set up a rates payment plan. Please get in touch with Council if you’re facing financial hardship—we’re here to help.
For more information go to: upperhuttcity.com/revaluation