Most land owners accept valuations

Fewer than 2% of the latest Central Otago property valuations have been contested.

Quotable Value southern operations manager Brendon Bodger said 253 valuations, relating to 1.8% of properties, were objected to.

That was "about the same, possibly a bit lower" than when valuations were last done, in 2007, "when the market was pretty good".

Many of those who objected had done work on their properties that did not require building consent.

The level of objections had lessened as more information had become publicly available to property owners.

"There is a lot more information around as to what markets are doing," he said.

Central Otago's objection rate was similar to the South Island average.

The number who thought their valuation was too high was about the same as those who thought it too low.

QV was contacting people who objected and they should hear from a valuer within a couple of months.

The average house in Central Otago was valued at $297,000.

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