Revaluations 2021

Every three years, we are required by law to assess the rating valuation of every property in Hamilton. This revaluation of the city helps us calculate what your rates will be for the following three years.


The 2021 revaluation of all Hamilton properties is now complete and the new valuations can be viewed on our property search database. 


We used Opteon, an independent registration valuation company, to complete complex market research, looking at property type, location and land size, to provide up-to-date values for all Hamilton properties.  


COVID-19 restrictions have caused scheduling delays to revaluations across the country and valuation notices have been sent later than usual.

 

Your new valuation is an estimate of the likely selling price (without chattels) if the property had sold on 1 September 2021.  

 

This helps us to calculate rates from 1 July 2022.  

 

The valuations have been audited and approved by the Office of the Valuer-General.  


If you disagree with the valuation, you can lodge an objection.

Why is it the 2021 revaluation when I was notified in 2022? 

Rating valuations are a snapshot in time.  

 

COVID-19 restrictions caused scheduling delays to revaluations across the country and Hamiltons revaluation was completed later than usual.

 

Because property prices are always on the move, your 1 September 2021 valuation may not reflect your property’s market value if it sold today. 

 

If you need a current market valuation, you can purchase this from a registered valuer. Council is not involved in this, and it won’t affect your rating valuation. 

What does this mean for my rates? 

Your rates won’t change by the same amount as your rating valuation has changed. 

 

The total amount of rates Council collects does not change as a result of the three-yearly revaluation. We calculate how much it costs to run our great river city and set budgets to work out everyone’s share of the rates pie.


As set in the 2021-2031 Long-Term Plan, Council is currently proposing a 4.9% average rates increase from 1 July 2022, to be confirmed in June 2022.


How your rates change will depend on how your property's Capital Value has changed compared to the average for the property type.


A residential property with a Capital Value increase of about 57% should see a rates increase of about 4.9%.


A commercial / industrial property with a Capital Value increase of about 40% should see a rates increase of about 4.9%.


If your property changed by more than the average, your rates increase may be more than 4.9%.


If your property changed by less than the average, your rates increase may be less than 4.9%, or may decrease.


Not all rates are based on property value. Some rates are a fixed amount and are not affected by the revaluation.


Page reviewed: 29 Apr 2022 8:57am