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Local Government (Rating) Act 2002

Replacement of rates and miscellaneous matters - Miscellaneous matters

131: Estimate of projected valuation by regional council

You could also call this:

"Regional council estimates land values to understand changes over time"

Illustration for Local Government (Rating) Act 2002

If you live in an area with a regional council, they might need to estimate the value of all the land in their region. You might wonder why they need to do this, and it's because sometimes the values of land in different parts of the region are updated at different times. A regional council can ask a registered valuer to make an estimate of the projected valuation of all the rateable land.

The valuer will try to figure out how the value of the land has changed since the last time it was updated. They will look at the difference in value between the date of the last update and a date chosen by the regional council. This helps the regional council understand how the value of land in their region is changing over time.

The regional council chooses a date for the projected valuation, and the valuer uses this date to make their estimate. This estimate gives the regional council an idea of the changes in land value for each part of their region. You can think of it like a snapshot of how the land values are changing.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM133191.

Topics:
Government and voting > Local councilsHousing and property > Land use
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Part 5Replacement of rates and miscellaneous matters
Miscellaneous matters

131Estimate of projected valuation by regional council

  1. This section applies if the general revaluations of the components of the district valuation roll of a regional council do not all take effect on the same date.

  2. A regional council may arrange for a registered valuer to make an estimate of the projected valuation of all the rateable land in the districts of the constituent territorial authorities.

  3. The purpose of the projected valuation is to indicate the extent and nature of changes in the rateable value of rateable land in each constituent district between—

  4. the date on which the general revaluation for that district took effect; and
    1. the date nominated by the regional council as the date in respect of which the projected valuation is to be made.