Work is well under way on Queenstown Lakes district’s latest general property revaluations, with an expected delivery date of the first quarter of 2025.
New rating valuations are being prepared for every property in the district. They are being undertaken by independent valuer Quotable Value (QV), with new values being processed for every property based on its most likely selling price if it had sold on September 1 last year.
The new 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 July 1.
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 ... 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.
If property owners do not agree with their new rating valuations, they have a right to object.
— APL
