Auckland Council CV Update 2025

Auckland homeowners can expect updated capital valuations (CVs) in 2025, as the Auckland Council completes its three-yearly property revaluation process. These valuations play a crucial role in determining property rates, which will be applied from July 2025.

What Are Capital Valuations?

Capital valuations assess the value of a property for rating purposes, not its market value. They are calculated based on the most likely selling price as of May 1, 2024, and are divided into:

• Land Value: The value of the land itself.

• Improvement Value: The value of any buildings or structures on the land.

These valuations are used to allocate the total rates bill fairly among property owners. It's important to note that CVs do not reflect current market trends or rebuild costs. 

Delays in Valuation Release

Originally scheduled for release in late 2024, the updated CVs have been delayed due to additional data amendments requested by the Office of the Valuer-General. The Auckland Council is working to ensure that the valuations accurately reflect the market as of May 1, 2024. The new timeline anticipates the release of valuation notices to property owners in early 2025, with the updated values to be used for rate assessments from July 2025. 

Impact on Property Rates

The updated CVs will influence the distribution of rates across Auckland. For the 2024/2025 rating year, the average capital value for urban residential properties is $1,421,000, with total rates of $3,855.12, reflecting a 6.80% increase from the previous year. For urban business properties, the average capital value is $3,789,000, with total rates of $20,776.46, marking an 8.39% increase. 

What Homeowners Should Do

Homeowners should review their property valuations once released. If you believe your property's valuation is incorrect, you have the right to object. Objections must be lodged before the due date specified on your valuation notice and should include a valid reason for the dispute. 

For more information or to find your property's valuation, visit the Auckland Council's official website: https://www.aucklandcouncil.govt.nz/property-rates-valuations/pages/find-property-rates-valuation.aspx

Stay informed to ensure your property rates are accurately assessed and reflect the true value of your property.

References

1. Auckland Council. (2024). General property revaluation.
   https://www.aucklandcouncil.govt.nz/property-rates-valuations/our-valuation-of-your-property/Pages/general-property-revaluation.aspx

2. Auckland Council. (2024). Find a property valuation.
   https://www.aucklandcouncil.govt.nz/buying-property/Pages/find-property-valuation.aspx

3. Auckland Council. (2024). Changes to your rates bill this year.
   https://www.aucklandcouncil.govt.nz/property-rates-valuations/Pages/changes-rates-bills-this-year.aspx

4. Auckland Council. (2024). Object to our valuation of a property.
   https://www.aucklandcouncil.govt.nz/property-rates-valuations/our-valuation-of-your-property/object-property-valuation/Pages/default.aspx

5. OurAuckland. (2024). New timeline for property revaluation.
   https://ourauckland.aucklandcouncil.govt.nz/news/2024/10/new-timeline-for-property-revaluation/

6. RNZ. (2024). Auckland capital valuations delayed another 4 months.
   https://www.rnz.co.nz/news/top/539655/auckland-capital-valuations-delayed-another-4-months

7. NZ Herald. (2024). Council delays release of Auckland property valuations until early next year.
   https://www.nzherald.co.nz/nz/council-delays-release-of-auckland-property-valuations-until-early-next-year/FF2A4PTPWVDIBC7HMFCE6WA2AI