Work is well underway on Queenstown Lakes District’s latest general property revaluation with an expected delivery date of the first quarter of 2025.

Completed by independent valuers Quotable Value (QV) on behalf of Queenstown Lakes District Council (QLDC), ratings valuations provide an updated rating value for properties, which are used by the council in setting rates for the next three years.

New three-yearly rating valuations are being prepared for every property in the district, QV South Island revaluation manager Melanie Halliday said. 

New values being processed for every property based on its most likely selling price if it had sold on September 1, 2024, Melanie said.

The new rating valuations will provide QLDC with an equitable basis for setting rates for the following three-year period starting from July 1, 2025.

Melanie said rating valuations are carefully calculated utilising all recent local property sales.

“We have also visited a large number of properties throughout the Queenstown Lakes District, particularly those that have been issued building consents in the last three years,” she said.

"Following careful analysis of all the data by our team of expert property valuers, the updated rating valuations will be independently audited by the Office of the Valuer General to ensure they meet rigorous quality standards, before the new rating valuations are confirmed and eventually posted to all property owners.”

Rating valuations are not intended to be used for any other purpose besides helping councils fairly allocate rates. This includes raising finance with banks or as insurance valuations.

If property owners do not agree with their new rating valuations, they have a right to object through the objection process, which commences for approximately six weeks from when the new rating values are issued. 

These details will be posted with all Notice of Rating Valuations once the revaluation has been completed and certified.

Property owners can find out more about rating valuations here.

PHOTO: Wānaka App