Source: Auckland Council
The latest rating valuations
What valuation trends do I need to know?
Two independent valuation providers, QV and Opteon, completed the 2024 valuation process. These companies are experienced property valuers and have worked closely with Auckland Council. The trends they identified tell us:
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Values for areas further from the city centre have reduced less. These include Hibiscus & Bays, Upper Harbour and Franklin (-4% to -1%).
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Conversely, properties closer to the city centre generally have above-average reductions (-11 to -14%). These include Puketāpapa, Albert-Eden, Maungakiekie- Tāmaki, Waitematā and Whau (all -14 or -13%).
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In some areas, reduced demand for properties with redevelopment potential has contributed to larger value declines. These include Māngere Bridge, Henderson, Massey, Glen Innes, Point England and Panmure.
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Land values have driven changes in CV. For many residential properties, land values reduced an average of -13% and commercial -6%. The reduction in land values reflects reduced development activity since 2021 and, in some cases, potential zoning changes.
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Some have bucked the trend. Rodney has held its values (average 0% change) and Great Barrier is up (+38%). This is a continuing trend, with residential valuations on Great Barrier up 59% at the 2021 rating valuation.
My property’s valuation has reduced. Why?
The new valuations reflect changes between 1 June 2021 and 1 May 2024. The last council rating valuation in 2021 was close to the market peak, and between then and May 2024 the economy and property market generally trended down.
Council valuations do not reflect a property’s current market value and should not be used for insurance or mortgage purposes. Valuations just allow rates to be fairly shared.
Valuers assess a property’s CV by analysing data, such as local sales, property type, location and other property factors. The valuations are not a good indication of what your property would sell for today (the values are based on 1 May 2024).
Rating valuation and rates
How does rating valuation impact a property’s rates cost?
How a property’s CV changes compare to other properties in the region will determine whether a property’s rates increase from 1 July is more, or less, than the average residential rates increase of 5.8%. The new CV will be used to calculate rates for the next rating year, from 1 July 2025.
Reduced property values mean lower rates, right?
A change in a property’s CV will not necessarily mean the rates will be higher for an increased value, or lower for a decreased value. Properties with a valuation change higher or lower than the region’s average, will pay a higher or lower proportion of rates.
Does rating valuation affect the amount of rates council receives?
Revaluation doesn’t affect the amount of money the council collects from rates – it helps work out everyone’s share of rates. Any increase, or decrease, in the city’s property value does not change the total amount of rates the council collects. The council sets its budget annually following community consultation, using the three-yearly Long-term Plan as the starting point.
The council decides the rates revenue it needs to provide the services in the budget, after accounting for all revenue sources such as income from fees and charges, and central government contributions. Achieving savings and other initiatives to improve value for money are helping the council to deliver more, without solely relying on rates increases.
What a new property valuation means
Why does the council value properties?
All councils are required by law to revalue properties inside their boundaries within a maximum of three years. In order to set rates fairly, the council’s registered valuers attribute an approximate value to all properties in the region, every three years. The last rating valuation was in 2021 and used to set rates from 1 July 2022.
Does rating valuation reflect the current value of a property?
No, a rating valuation reflects the likely selling price of the property, without chattels, if it sold on 1 May 2024. This historical information is only used for fairly sharing rates between properties. Council valuations do not reflect a property’s current market value and should not be used for insurance or mortgage purposes.
For an appraisal of current market value, we recommend ratepayers reach out to local real estate agents or registered valuers. There is also a range of online providers of property information based on current market data and recent trends.
How are rating valuations completed?
Valuers assess a property’s CV by analysing data, such as local sales, property type, location and other property factors. The values are not a good indication of what a property would sell for today (the values are based on 1 May 2024).
Rating valuations allow rates to be fairly shared. Council valuations do not reflect a property’s current market value and should not be used for insurance or mortgage purposes.
How does it work for an average home?
For your average stand-alone home, the valuers would look at sales of comparable homes – similar land size, floor area, quality condition and location attributes, such as coastal properties.
Valuers analysed market sales in areas of Auckland around 1 May 2024, considering similar properties and locations. For example, renovated villas in Grey Lynn are compared with sales of other renovated villas in that immediate area.
So, a typical residential property would usually move in value along with other similar properties in the neighbourhood. But not all property values in an area will change in the same way – it depends on standalone houses, cross-leases, units and other home types. Values are done by mass valuation, using information held by council and our valuation providers – not by individual inspection.
Good things to know
Who completed this year’s valuations?
Given the scale of the task of valuing 630,000 rateable properties in Auckland, two property valuation partners were involved in Auckland rating valuation: Opteon and Quotable Value.
How does the objection process work?
Property owners who want to opt for an objection can do so by 25 July 2025. We encourage property owners to take a look at the process via our website – and consider how the CV for their property compares with the CV for similar properties in their local area.
Because the rating values are all based on 1 May 2024, looking at more recent sales data might not be relevant when considering an objection. Further information is available online through the Auckland Council website or phone 09) 301 0101.
If an objection leads to a change in a property’s rating value, council will issue amended rates assessments that reflect any increase or decrease. If a refund is required, any overpaid amount will be refunded (once the objection process is complete).
What should ratepayers do if they are concerned about paying rates?
Anyone concerned about paying their rates is encouraged to get in touch as we have a range of assistance available.
These include:
- a government-funded rates rebate scheme
- a rates postponement scheme for residential properties
- flexible payment options, such as direct debits offering weekly, fortnightly, monthly, quarterly, and annual payment.
The rates rebate threshold for SuperGold card holders will increase from $31,510 to $45,000 from 1 July 2025. This will make more ratepayers who receive NZ superannuation eligible for a rates rebate.
This information can be found on the Auckland Council website and our rates invoices also detail the support available. We encourage ratepayers to consider the options.
This year’s valuation delay
Why has the property rating valuation been delayed?
Ensuring a robust valuation process so ratepayers receive values that accurately reflect market values as at 1 May 2024 is important to the council, so Aucklanders have confidence the values used to determine rates have been accurately calculated.
Following an audit in September 2024, the Valuer-General advised that the council valuation data required some amendments to ensure it accurately reflects the market as at 1 May 2024, before valuations will be certified and ready for public release.
The Valuer-General advised that the 2024 valuation data was of a good quality, however some further work was needed for Auckland Council to attain certification.
In April, the valuation file was resubmitted to the Valuer-General for review once that further work was completed by our valuation partners. The Valuer- General has now certified the 2024 rating valuations which has enabled us to publicly release these to property owners in June 2025.
Who is the Valuer-General and why are they involved?
The Valuer-General is appointed by central government and has a statutory responsibility for auditing and certifying all valuations used by councils to set rates.
Where can I get more information?
Further information is available on the Auckland Council website.
This year’s rating valuation trends is summarised on OurAuckland.
To discuss your queries further, please phone (09) 301 0101.
