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Stratford ratepayers will receive their updated property valuation notices this week after Quotable Value Ltd carried out its three-yearly revaluation of all properties in the Stratford District.
District Mayor John Edwards says, "The Council does not generate any extra revenue from this process. The amount of money generated through rates remains the same, but the distribution of those rates changes depending on the QV valuation.”
A number of factors are used to value properties including residential and commercial sales, rental figures and changes or improvements to a property since the last valuation.
The revaluation notices will reflect the probable price properties would have sold for on 1 September 2008, so do not necessarily reflect the current market value at the date of the valuation notice.
The movements reflect the change from 1 September 2005 to 1 September 2008. The Stratford District as a whole increased in value from $1.9 billion to $2.8 billion, with the standout performer being the rural sector, which increased in value from $1.1 billion (57.9% of total value of the District) to $1.8 billion (64.4% of total).
Ratepayers not satisfied with their valuation can lodge a formal objection with Quotable Value Ltd. The closing date for ratepayers to make an objection is 17 December 2008. Before this date, ratepayers can discuss the valuation on the phone with a valuer before making a final decision whether to object or not.
Register on www.quoteable.co.nz, to view your property report, for no cost.