Houses
Property values have dropped an average of 8.8 per cent across the Otorohanga district.
Quotable Value New Zealand Upper North Island general manager Joe Holmes told Otorohanga District Council on Tuesday that the revaluation of 5,453 properties had been conducted across the district on July 1.
Almost half of the properties, 2031, were residential and homeowners saw a 15.4 per cent drop in value.
The smallest decline in value, 1.9 per cent, occurred on 584 dairy properties. In comparison, 382 pastoral properties recorded a 9.8 per cent decline in value, nine horticultural properties fell 21.9 per cent and 94 forestry properties 12.4 per cent.
The 120 commercial properties across the district dropped 14 per cent decline in values, and the 101 industrial properties fell eight per cent.
Holmes told the council changes in valuation had been notified to property owners who had been given until last week to object.
Council chief executive Tanya Winters pictured with, from left, councillors Kit Jeffries, Tayla Barclay, Jaimee Tamaki, Katrina Christison, mayor Rodney Dow, Tennille Kete, Shane Carr, Andrew Barker and Jo Butcher.
Quotable Value New Zealand had received 40 objections, about half the number expected for the size and population of the district.
“It would have been 41,” said councillor Jo Butcher. “I found this process does not have enough time. I have various properties and two of them do not make sense. Is there an opportunity to look at that?”
Holmes said the deadline had been extended already, but he would follow that up.
Butcher said the organisation’s website was also not helpful for anyone who wished to object to a revaluation.
