Rating assessments out soon

by Mike Isle

Selwyn property owners are about to be told the rateable value of their properties.

That’s the capital value, assessed by Quotable Value (QV) on behalf of the Selwyn District Council, used by the council to help calculate each year’s rates.

The assessments will be in the post soon, with the council saying that most property owners will have received theirs by mid-November. The new rates, however, will not take effect before the year starting July 1 2019.

The council said that the capital value of the property reflected the likely selling price if the property was sold on July 1 2018.

The average increase in capital value across Selwyn was 6.7 per cent. It means property owners whose property value increased more than the Selwyn average can expect a slightly higher than average rate increase in 2019.

Property owners with less than the average value can expect a slightly lower than average rates change.

For most residential properties in Selwyn, only a quarter of the rates bill is based on the QV capital assessment — the balance comes in the form of fixed amounts for services such as libraries.
Property owners can object to the assessment — an objection must be lodged by December 20 2018. Information about how to do that is included in the revaluation notice.