Property revaluation deadline deferred

Land Information Minister Maurice Williamson today announced the Government has approved an Order in Council allowing the Waimakariri District Council to extend its deadline for general property revaluations until 1 December 2014.

"Under the Order, the council will have an additional two years to revalue properties in its catchment area for rating purposes," Mr Williamson says.

The revaluation was originally scheduled to be completed by 1 July 2011, but was extended until December this year due to the Canterbury earthquakes.

"However, due to the number of properties that remain damaged it is not feasible to complete the revaluation by December".

"To enable Waimakariri District Council to best use its resources for earthquake recovery, the Government has agreed to the council’s proposal to extend the general revaluation for a further two years", Mr Williamson says.

"I am confident this deferral is in the best interests of property owners and ratepayers".

Property values in Waimakariri have stayed relatively constant since the last general revaluation.