Understand your property

Urgent Rating Value Review

You may have completed some work on your property that didn’t require a building consent (such as a deck, landscaping, a new kitchen etc) or you may simply consider that your rating valuation was not right at the time of your council's last revaluation.

 

To reflect the current condition of your property you can request an Urgent Rating Value Review by one of our experienced property valuers. 

 

An inspection of your property will usually take place within five working days from your request. Our property valuer will check the accuracy of the property valuation and details held on it. They will then compare your property’s characteristics to those of similar properties as at the date of the your council's last revaluation to determine whether your rating value should be changed.

 

Our property valuers are required to comply with strict guidelines set out in the Rating Valuations Act 1998 (Section 16), which outlines the need for consistency in values across all properties that are considered similiar. Find out more information on what is involved with an Urgent Rating Value Review.

 

Following on from the inspection, you’ll be posted an updated owners notice.

 

Rating valuations do not include chattels – carpets, drapes, light fittings, dishwashers etc, and are different from full market valuations, which reflect the current market value of the property at the time of the inspection.

 

To arrange for an Urgent Rating Value Review, enter your address to search for your property and select order under Urgent update to Rating Value

What is taken into account when my rating value is reviewed?

A rating valuation has many aspects to it, some of the aspects valuers consider are:  

  • Location
  • Size
  • Condition
  • Character
  • Quality of the construction
  • Views / outlook
  • Access (drive on)
  • Garaging / off street parking
  • Other buildings or notable features
  • Sun (aspect)
  • Modernisation (kitchen and bathroom)
  • Number of bedrooms / bathrooms
  • Privacy
  • Access to local transportation and amenities
  • Street Appeal
  • Noise
I have reroofed my property recently. Does my rating value need to be updated?

This may not affect the rating value, as every home requires a certain amount of maintenance to keep the home in good working condition. Not all maintenance ‘adds value’ to your property, however a potential buyer would probably view your property in a more positive light as they won’t need to re-roof for another 30 years or so.

What happens if my real estate agent has told me that my rating value is too low and it should be updated?

All property owners are entitled under legislation to pay to have their rating value reviewed, however any new property valuation must comply with the rules stipulated in the Rating Valuations Act 1998. The primary purpose of a rating valuation is to assist your local council with the allocation of rates therefore, any new property valuation must ‘preserve uniformity with existing roll values of comparable parcels of land’. To explain this simply, if your property is one of five identical properties, they should all have a similar rating valuation.

 

You do have the option to request an Urgent Rating Value Review.

Why is my rating valuation lower than my neighbours, particularly as I have been inside their property and I think that mine is better?

A lot of work can be done to a property that doesn't require a building consent. In these instances, unless the owners have contacted QV to tell us of these changes, it is unlikely that we will know about them. This includes improvements such as modernising a kitchen or bathroom, redecorating, landscaping and much more. Our valuers can inspect your property and compare your property’s characteristics to other similar properties. Following inspection you will be sent an updated Owners Notice.

What do I need to do if I have just completed an extension to my property and would like my rating value to be updated?

We automatically get informed by your council when building consents and subdivisions occur and will make an inspection of the property when we are next completing valuations in your area. This could be up to 3-6 months into the future. If you would like your rating valuation reviewed urgently, you can pay to have a valuer come out at your convenience and time frame.

What happens if I pay for a review and my value doesn’t change?

Owners are entitled to lodge an objection to the review decision if received within the specified time frame and manner required. QV may require another valuer to re-inspect the property and provide a ‘second opinion’ on the value of the property. A decision will be forwarded to the owner in due course.

When will my new value be used for rating purposes?

Any change in rating value will not be rated upon until 1 July of the next rates year.

Who can order an Urgent Rating Value Review?

Only an owner or ratepayer of a property can request an Urgent Rating Value Review.

Urgent Rating Value Terms and conditions