Auckland revaluations – winners and losers
Auckland Council’s new capital valuations were released on Monday. The relative change in the CVs determine the level of rates homeowners will be responsible for over the next three years, starting July 2018.
The average increase in CV is 45% - that’s the most important figure for homeowners. If your property has increased in value by more than 45% you should expect to see an increase in rates, whereas if your property value increase is less than 45%, you shouldn’t see a large spike in your rates – in fact, some people may see their rates bill fall.
The revaluations have effectively been a catch-up story – while central suburbs in the Auckland isthmus are notoriously expensive, their increase in value has been outstripped by significant increases in South Auckland.
For example, broken down by local board, capital valuations increased by 55% in Mangere-Otahuhu; 53% in Manurewa; 61% in Papakura; and 62% in Otara-Papatoetoe. If you live in South Auckland, or own property there, big rates rises could be on the cards.
Properties in the Kaipatiki Local Board area only had their CVs increase by an average of 39% - homeowners in Birkenhead and Northcote Point should expect to be pleased with their rates bill, all things considered.
You can look up your own property on the Council’s website here www.aucklandcouncil.govt.nz/property-rates-valuations.