Property valuations

A property value is made up of three components:

Capital value

This is what your property might have sold for at the date of valuation. It does not include chattels, stock, plant, crops, machinery or trees.

Residential properties include GST, other property types do not.

Land value 

This is the most likely selling price of the bare land at the date of valuation.

The land value includes any development work that may have been carried out, such as draining, excavation, retaining walls, levelling, clearing of vegetation or protection from flooding.

Value of improvements

This is the difference between the capital value and the land value.

A general revaluation of all the properties within a district usually takes place every three years.

Valuation notices are also issued between revaluations when changes are made to properties. For example, if land is subdivided or a building is built or demolished.

If a valuation is issued between general valuations, the values are calculated to the date of the last general revaluation to ensure uniformity between properties. For example, if you build a new house in 2025, the rating valuation date will be 1 July 2024 (the date of the last general revaluation).

Land values (LV)

The following table displays the residential land values by suburb for the 2024 revaluations.

Capital values (CV)

The following table displays the residential capital values by suburb for the 2024 revaluations.

An increase in a property's valuation does not mean that rates will increase or decrease by the amount of this change, as property valuations don't affect the total amount of rates collected by us. Instead, they help us work out everyone’s fair share of rates.

Each year, we assess how much money is needed to provide services and build and maintain our District’s assets, such as roads, parks and sports fields.

We currently use land value to calculate the share of our District’s general rates that should be charged to each property.

Any rates increase is determined by the property's value increase compared to the average increase across the Whangārei District.

For example, if residential property values increased on average by 1 per cent, a property that decreased in value by 10 per cent would be rated less. Conversely, a residential property that increased in value by 20 per cent would be rated more.

The rating valuations are based on market data at 1 July 2024 and should reflect a likely sale price, excluding chattels, at that date.

The capital value is the value of a property for rating purposes, not the current market value of a property.

To find out the current market value of a property for a mortgage application, selling or insurance purposes, you need to engage a registered valuer.