How a revaluation will impact your rates

Your new 2015 valuation will be used to calculate rates from the start of the next rating year, which begins on 1 July 2016.

It is important to be aware a change in the rateable value does not necessarily mean rates for that property will change by a similar percentage. The rating valuations are one part in determining how much total rates you will pay.

Council does not collect more rating income as a result of increased property values or less rating income if values decrease.

As an example, if rates were calculated based on the current year's rating requirement, using the new 2015 valuations, the total rates collected within each rating category (i.e. residential, commercial, rural) would remain the same. However the distribution of rates within each category for individual ratepayers will change based on their value change against the average for that category. 

If your value increase is greater than the average value change within that category, it is likely that you will receive a rates increase.  If it is less than the average, you may see a rates decrease. The greater the variance from the average, the greater the change.

Other factors that will impact any rates changes are:

  • As part of Council's 10 year plan, a 3.8% rates budget increase is proposed. 
  • In addition to this, Council is currently transitioning from land value to capital value rating. The second year of the transition begins in July 2016, therefore your proportion of land to capital value will also have an impact.

 

Page reviewed: 29 Apr 2016 2:47pm