Waimate District residents can check out their new rating valuations

Quotable Value has published the latest rating valuations for all 4451 properties within the Waimate District as a result of their three-year review.

Property owners will receive their 2019 Notice of Rating Valuation in the mail after 23 September 2019, but can go to Council’s website waimatedc.govt.nz now to check out how much their property is worth. Council rates will be updated based on the new 2019 rating valuations from 1 July 2020.

The figures show the total rateable value of all properties in the Waimate District is now just over $4.9 billion with the land value of those properties now valued at slightly over $3.2 billion.

The average residential house value has increased by 18.4% with the average house value now $235,000, while the average land value has increased to $75,000, a rise of 24.5%.

Commercial property is showing an overall increase of 4.6% while the industrial sector has increased 2.8%. Land values have increased overall with 54% for commercial and 17.6% for industrial compared to 2016 land values.

Mayor Craig Rowley is pleased with the increase in valuations.

“The increases demonstrate that the Waimate District has and continues to be a desirable place that people want to live and invest in.

We are very fortunate to live in a district where housing is affordable, which is a key element to growing the district as identified in the Waimate District Economic Development Strategy Action Plan.”

Owners that do not agree with their rating value have the right to object until 6 November 2019 by contacting Quotable Value online at ratingvalues.co.nz or 0800 787 284.