Rating Valuations

Rating valuations (formerly known as Government Valuations) are primarily undertaken to provide a basis for rating properties within the Tasman District.

A general revaluation is carried out once every three years which is audited by the Office of the Valuer-General. Valuations remain valid for three years unless there is a change to the property through a building consent, subdivision or resurvey. The latest revaluation was carried out in the Tasman District in September 2011 by Quotable Value who provide valuations to the Council under contract.

To calculate a rating valuation, sales of comparable properties are analysed to determine movement levels per type and location. Rental levels, production and yield rates are also collated through the market place. Using mass appraisal techniques, values are then adjusted to reflect movement levels against the former rating valuation.

Capital value includes the value of both the land and any improvements on the property. The value is an estimation of what price would be paid for a property as at the date of the most recent general revaluation. Land value is the estimated price of the bare land as at the date of the most recent revaluation.

Tasman District Council rates are based on the capital value of a property although there are some miscellaneous rates that are based on land value.

For further information on rating valuations you can contact the Rate Office or Council's valuation service provider Quotable Value on 0800 787 284.

Quotable Value