How Will Revaluations Affect Your Rates?

General Property Revaluation Overview

A rating valuation is a three-yearly assessment of a property's value and is determined by house sale prices on a specific date. We use these valuations as a guide for setting your rates.

Revaluations are required by law and we do them because we want to set property rates fairly.

As property values are always moving we need to update our rates distribution to maintain fairness.

The aim of the general property revaluation is not to provide values for property owners to use for marketing, sales or any other purposes.

How often do we revalue properties in Horowhenua?

At least once every three years every district and city in New Zealand is revalued to set the values that the council will use to charge the rates for the next three years.

The Horowhenua District has been revalued for rating purposes, with new rateable valuations for properties due out from 14 December 2022.

The new values will be used by Horowhenua District Council to determine rating from 1 July 2023.

How property values are calculated

Our valuers, Quotable Value (QV), work with independent organisations to determine the values. The Valuer-General audits these values to ensure accuracy. Comparison of recent sales in the area with the property being valued is one of the factors considered to determine property values.

Other factors considered:

  • Property type
  • Location
  • Land size
  • Zoning
  • Floor area
  • Consented work (renovations, new build, subdivisions etc).

What property values are made up of

Property values are made up of Capital Value, Land Value and Improvement Value.

Capital Value (CV)

The most likely selling price at the date of valuation.

The CV is also known as Government Valuation (GV) or Rateable Value (RV).

Land Value (LV)

The most likely selling price of the vacant land at the date of valuation.

Improvement Value (IV)

The added value of improvements to the vacant land. This is calculated as CV minus LV.

The IV is not an assessment of the replacement cost and should not be used for insurance purposes.

The valuation is made on this “highest and best use” basis, rather than the existing use. For example, a smaller pastoral block may have a higher value as a lifestyle residential property, and a smaller farming property on the outskirts of a larger urban township may have a higher value as a residential subdivision. It is this “highest and best use” that tends to increase the value of coastal land because of the historically high demand from developers.

Additional information is available from QV on their website at - you can also watch the video below.

Impact of a revaluation on property rates

An increase in your property value may not mean you pay more in rates. Any rates increase is determined by your property value increase compared with the average increase across the Horowhenua District.

If your property has increased by more than the average, you may pay more than the average rates increase for the 2023/24 financial year.

Revaluation does not affect the amount of money we collect from rates - it helps us work out everyone’s share of rates.

You can rest assured that if your value changes as a result of your objection, we will backdate the changes to your rates accordingly.

When do the new values come into effect?

The 2022 values will be used for rating purposes from 1 July 2023. This revaluation process has been undertaken and property owners will start to receive their valuation notices from 14 December 2022.

Find out your property valuation

You can find out your property valuation by:

Frequently Asked Questions

What happens if I've recently made improvements to my property that didn't require a building consent?

If you've recently made improvements to your property that didn’t require a building consent then QV won’t know about the value you've added.

You can check your general property information and make corrections, as well as advising QV of improvements, on their website at Alternatively, contact QV on 0800 787 284.

What should I do if I disagree with the valuation?

There's a formal objection process that you can use to challenge the valuation if you feel that it's not correct. Details of the process will be contained with the Notice.

If you want to object, you need to give the valuers some good reasons why you believe that the valuation is wrong and you need to suggest what you think it should be and why. If you're not satisfied with the result of an objection you have the right to have the valuation heard by the Valuation Tribunal.

New rating values will be posted to property owners from 14 December 2022. If owners do not agree with the rating value they have the right to object. The objection close-off date is Friday 3 February 2023.

To find out more about objecting or to lodge an objection online, visit the QV website at or call QV toll free on 0800 787 284.