Revaluation of property in Taupō District released

A revaluation of property in the Taupō District has revealed a total capital value of $30.5 billion, a 54 per cent increase since 2019.

The 2022 Taupō District rating valuations were independently completed by Opteon using a mass appraisal process and are a snapshot in time reflecting the market value as at 1 July this year. They do not reflect the market movement since that time.

A common misconception is that rates automatically increase along with the value of a property. If you think of the Council’s rates income as a pie, the size of the pie does not get any bigger as a result of the revaluation. However, a ratepayer’s slice of pie might get bigger or smaller depending on how their property value has changed in relation to the average change of the district.

The new valuations have seen an average capital value increase of 72 per cent for residential properties across the district. The lowest increase was for dairy farms, which increased an average of 22 per cent. There were no capital value decreases across any of the main property categories.

The largest residential increase in average capital value was in Mangakino (up 90 per cent). The lowest residential increase was in Acacia Bay (up 58 per cent).

The process for determining rating values is independently audited by the Office of the Valuer General and stringent quality standards have to be met before a revaluation is confirmed.

The new valuations take effect on 1 July 2023. Property owners who disagree with the new valuation can lodge an objection up until 17 January, 2023.

To find out more information about rating values in the Taupō District and how to lodge an objection visit taupo.govt.nz/valuations.