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, a 4.9% average rates increase will apply from 1 July 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.