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RNZ News
9 hours ago
- Business
- RNZ News
How Auckland ratepayers can learn their new property valuations today
An aerial view of an Auckland suburb showing many blocks of housing. Photo: RNZ / Kate Newton Auckland ratepayers can learn their new property valuations this week. Auckland Council will release the rating valuations for Auckland's 630,000 properties online from Tuesday, while ratepayers will be sent formal notices from Friday. You can check your valuation here . Monday's valuation data showed residential values have fallen nine percent since the last CVs were unveiled in 2021. Auckland Council chief financial officer Ross Tucker said the rating valuations are based on property market trends and recent sales activity as at 1 May, 2024. "As we know, the last council valuations from 1 June, 2021 were completed close to the market peak and between then and May 2024 the economy and property market generally trended down. "Therefore, as most people would expect, the May 2024 Capital Values (CVs) are lower than the previous 2021 CVs for many properties," Tucker said. He said for 2025/2026, Auckland Council has approved an overall average rates increase of 5.8 percent for residential ratepayers Auckland Council chief financial officer Ross Tucker. Photo: RNZ/Calvin Samuel This means annual rates for an average residential property (CV $1.29 million) will be $4,069. The 5.8 percent average increase for 2025/2026 will equate to $223 per year or around $4.30 per week. "We are acutely aware of the tough cost of living facing our community and we continue to work hard to achieve council savings and improve value for ratepayers, to help keep rates as low as possible," Tucker said. "Most Auckland ratepayers will see some degree of rates increase from 1 July, 2025. However, how a residential property's CV changes compares to other properties in the region will generally determine whether that property's rates increase from 1 July is more, or less, than the 5.8 percent average. "If your residential property value has reduced more than the average (-9 percent) change between the two valuations, you can expect a smaller rates increase than the 5.8 percent. Conversely, if your property value held up better than the average, then you can expect a larger rates increase." During Monday's media briefing, Auckland Council said residential properties in centrally located local board areas tended to see a bigger reduction than those further out, particularly apartment dwellings which had fallen 12 percent. Properties closer to the city centre by in large had above-average reductions like Puketāpapa, Albert-Eden, Maungakiekie-Tāmaki, Waitematā and Whau (all -14 or -13 percent). Auckland Council said this could be influenced by the varied market, including apartments, multi-units and stand-alone homes, which all have different sales trends. For many residential properties, land values had fallen an average of -13 percent and commercial land is also down -6 percent. The reduction in land values reflects reduced development activity since 2021 and, in some cases, potential zoning changes. Reduced demand for properties with redevelopment potential contributed to larger value declines in areas like Māngere, Henderson, Massey, Glen Innes, Point England and Panmure. Values for areas further from the city centre held up slightly better with Hibiscus & Bays, Upper Harbour and Franklin ranging from -4 percent to -1 percent. Commercial values were also down 5 percent, while lifestyle and rural increased by 4 percent, industrial was also up 5 percent. Auckland Council chief economist Gary Blick. Photo: RNZ/Calvin Samuel Council said it was also difficult to quantify the overall effect of the 2023 Auckland flooding event on the market due to the number of variables involved. Despite that, data shows that values in Muriwai increased by 12 percent while values in Henderson fell by 10 percent. Rodney held its values (average 0 percent change) and Aotea Great Barrier is up (+38 percent) which Auckland Council said is a continuing trend, with residential values on Aotea Great Barrier up 59 percent at the 2021 revaluation. Auckland Council chief economist Gary Blick said it was important to highlight that the previous two Auckland rating valuations coincided with markedly different stages of the recent economic cycle. "At the time of the 2021 rating valuation, in June 2021, the Official Cash Rate (OCR) had been at an all-time low," says Mr Blick. "We saw exceptionally low mortgage rates and strong upward pressure on property prices. The 2021 rating valuation reflected those higher prices. "In contrast, the 2024 rating valuation in May 2024, occurred when the OCR had been lifted to its recent high of 5.5 per cent. Higher interest rates cooled buyer demand, leading to a decline in property prices. "Despite that fall, the median house price as at May 2024 was still above the level just prior to the OCR cut of March 2020, and that remains the case today. The recent economic cycle - with its unusually steep climb and fall - helps explain why some properties have had swings between the two rating valuations." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
a day ago
- Business
- RNZ News
How Auckland ratepayers can learn their new property valuations
An aerial view of an Auckland suburb showing many blocks of housing. Photo: RNZ / Kate Newton Auckland ratepayers can learn their new property valuations this week. Auckland Council will release the rating valuations for Auckland's 630,000 properties online from Tuesday, while ratepayers will be sent formal notices from Friday. Monday's valuation data showed residential values have fallen nine percent since the last CVs were unveiled in 2021. Auckland Council chief financial officer Ross Tucker said the rating valuations are based on property market trends and recent sales activity as at 1 May, 2024. "As we know, the last council valuations from 1 June, 2021 were completed close to the market peak and between then and May 2024 the economy and property market generally trended down. "Therefore, as most people would expect, the May 2024 Capital Values (CVs) are lower than the previous 2021 CVs for many properties," Tucker said. He said for 2025/2026, Auckland Council has approved an overall average rates increase of 5.8 percent for residential ratepayers This means annual rates for an average residential property (CV $1.29 million) will be $4,069. The 5.8 percent average increase for 2025/2026 will equate to $223 per year or around $4.30 per week. "We are acutely aware of the tough cost of living facing our community and we continue to work hard to achieve council savings and improve value for ratepayers, to help keep rates as low as possible," Tucker said. "Most Auckland ratepayers will see some degree of rates increase from 1 July, 2025. However, how a residential property's CV changes compares to other properties in the region will generally determine whether that property's rates increase from 1 July is more, or less, than the 5.8 percent average. "If your residential property value has reduced more than the average (-9 percent) change between the two valuations, you can expect a smaller rates increase than the 5.8 percent. Conversely, if your property value held up better than the average, then you can expect a larger rates increase." During Monday's media briefing, Auckland Council said residential properties in centrally located local board areas tended to see a bigger reduction than those further out, particularly apartment dwellings which had fallen 12 percent. Properties closer to the city centre by in large had above-average reductions like Puketāpapa, Albert-Eden, Maungakiekie-Tāmaki, Waitematā and Whau (all -14 or -13 percent). Auckland Council said this could be influenced by the varied market, including apartments, multi-units and stand-alone homes, which all have different sales trends. For many residential properties, land values had fallen an average of -13 percent and commercial land is also down -6 percent. The reduction in land values reflects reduced development activity since 2021 and, in some cases, potential zoning changes. Reduced demand for properties with redevelopment potential contributed to larger value declines in areas like Māngere, Henderson, Massey, Glen Innes, Point England and Panmure. Values for areas further from the city centre held up slightly better with Hibiscus & Bays, Upper Harbour and Franklin ranging from -4 percent to -1 percent. Commercial values were also down 5 percent, while lifestyle and rural increased by 4 percent, industrial was also up 5 percent. Council said it was also difficult to quantify the overall effect of the 2023 Auckland flooding event on the market due to the number of variables involved. Despite that, data shows that values in Muriwai increased by 12 percent while values in Henderson fell by 10 percent. Rodney held its values (average 0 percent change) and Aotea Great Barrier is up (+38 percent) which Auckland Council said is a continuing trend, with residential values on Aotea Great Barrier up 59 percent at the 2021 revaluation. Auckland Council chief economist Gary Blick said it was important to highlight that the previous two Auckland rating valuations coincided with markedly different stages of the recent economic cycle. "At the time of the 2021 rating valuation, in June 2021, the Official Cash Rate (OCR) had been at an all-time low," says Mr Blick. "We saw exceptionally low mortgage rates and strong upward pressure on property prices. The 2021 rating valuation reflected those higher prices. "In contrast, the 2024 rating valuation in May 2024, occurred when the OCR had been lifted to its recent high of 5.5 per cent. Higher interest rates cooled buyer demand, leading to a decline in property prices. "Despite that fall, the median house price as at May 2024 was still above the level just prior to the OCR cut of March 2020, and that remains the case today. The recent economic cycle - with its unusually steep climb and fall - helps explain why some properties have had swings between the two rating valuations." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Zawya
26-05-2025
- Business
- Zawya
Massive public outcry over Cape Town's controversial 2025/26 budget proposals
The City of Cape Town has received significant public pushback to its proposed R84.1bn 2025/26 budget, with more than 14,000 submissions received during the public-participation process held from 28 March to 2 May 2025. The objections focus on the proposed tariff structure, which is based on property values and includes fixed charges for water and sanitation (as opposed to being based solely on estimated volumetric usage), as well as a new city-wide cleaning charge to fund street sweeping and the removal of illegal dumping. This has prompted more than 10,000 residents to sign a petition against the reforms. The petition is led by the City of Cape Town Collective Ratepayers' Association (CTCRA), which represents over 45 ratepayer groups. Critics argue that the removal of cleaning charges from electricity bills—under pressure from National Treasury—has simply led to their reintroduction as separate levies. While the city claims electricity tariffs will only rise by 2%, experts note this is misleading and does not reflect the full impact on ratepayers, especially those in Eskom-supplied areas or with solar power. City officials said while the proposed budget is meant to protect households under R2.5m, it has heard the concerns of ratepayers in higher-value properties particularly those of the NRPA and the Fish Hoek Valley Ratepayers' and Residents' Association who warned that the budget's structural changes could result in monthly increases of up to 30% for many households — especially those in properties valued above R3m. Fixed-charge backlash Keith Barton, chairperson of the Bergvliet Meadowridge Ratepayers' Association, says the draft budget unfairly shifts the burden onto middle- and upper-income households through steep increases in fixed charges linked to property values. 'If approved, this budget will cause financial strain for many middle-income homes. "A typical R4.2m property in our suburbs would pay R920 more per month in fixed charges — irrespective of the amount of electricity and water consumed. Households with solar and boreholes using minimal City services could see monthly municipal bills rise by over 30%. 'The City says this new structure ends the past practice of cross-subsidising other municipal services via electricity sales. We do not believe that municipal charges should be so heavily skewed towards a property's value instead of its consumption of services. 'However, we believe that, if the City is hell-bent on this method of imposing charges, it should mitigate the effect of the increases by adopting a phased approach that gradually phases out cross-subsidies while incrementally introducing the new fee structure over several years instead of doing this in a single budget cycle,' Barton said. City rethinks tariffs On the back of this public outcry, sources say that the City intends to amend and republish the budget, followed by an additional two-week public-consultation period. While the City has not officially confirmed this, it acknowledged that it is considering steps to ensure the final budget is legally adopted before the new financial year begins on 1 July 2025, in accordance with the Municipal Financial Management Act. Relief measures proposed In response to the outcry, Mayor Geordin Hill-Lewis has proposed potential relief measures, including extending rates-free thresholds, easing pensioner-rebate criteria, and reducing cleaning charges for certain properties. Despite the criticism, the City maintains that its service delivery is superior to other metros and that major infrastructure upgrades—costing R40bn—are necessary. However, the CTCRA argues that these upgrades could be phased in more gradually and calls on the City to explore alternative revenue streams rather than disproportionately targeting ratepayers. With limited time left before the 1 July implementation deadline, the City faces pressure to amend the budget and still comply with legal and administrative requirements. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
RNZ News
20-05-2025
- Business
- RNZ News
Despite being negatively affected residents say tourism is good for Mackenzie District
Acting mayor Karen Morgan wants the government to help pay for critical infrastructure like roads, car parks and toilets. Photo: RNZ / Niva Chittock A survey of residents living in the picturesque Mackenzie District finds almost everyone believes tourism is good for the region - and almost everyone has been negatively affected by it. The survey released by the district council found 92 percent of residents said tourism was good, and 87 percent said they had personally benefited from it. But 99 percent also said they been adversely affected by tourism in their local area. "The survey echoes what we are hearing on the ground: we support tourism but urgently need to address the impacts - and top of that list is infrastructure," acting mayor Karen Morgan said. She wanted the government to help pay for critical infrastructure like roads, car parks and toilets. "You just can't make the math work. "Lake Tekapo needs a new wastewater treatment plant to accommodate the large visitor volumes. At an estimated cost of $47m, it is unaffordable by a district of 5,500 ratepayers alone - it would almost take the Council to their debt ceiling, and Lake Tekapo is only one of our townships," Morgan said. She said the district had a housing shortage because so many homes had been converted to short-term holiday rentals. "Businesses had a good summer with absolutely stunning weather but they didn't work as much as they could have because they didn't have staff - because they couldn't house them. "For all that the government has a 'grow, grow, grow' agenda for tourism it has to make sure that the infrastructure that supports tourism, particularly in small communities, meets that demand as well." Morgan said tourism in the region had returned to pre-Covid levels, especially over summer. In 2024, the Mackenzie District had the highest visitor to ratepayer ratio in the country at 130.7:1. The national average was 7.3:1, and Queenstown was 85.3:1. She said the district was also disproportionately impacted by drive-through visitors who used facilities like public toilets but didn't contribute to the local economy. The survey found Mackenzie residents' feeling towards tourism was much lower than the wider population of Aotearoa. The Tourism Approval Rating (TAR), which measures residents' overall perceptions of tourism, is 11 in the district - the lowest of all participating regions. The National benchmark is 49, Queenstown's is 20. The range is from -100 to 100. As well as help with infrastructure, residents wanted more visitor education about road safety and environmental protection, more police, and more controls on freedom camping and short term rental housing. Morgan said the council was engaging with tourism minister Louise Upston about its particular challenges. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
News.com.au
16-05-2025
- Business
- News.com.au
Ratepayers have been whacked with costly bill jumps in Sydney's Northern Beaches
Some Sydney ratepayers have been slugged with a 25 per cent increase in bills, while another council has slammed the system after its application for an almost 90 per cent hike was rejected. Northern Beaches ratepayers will face a 25 per cent hike in their bill after a decision from the Independent Pricing and Regulatory Tribunal (IPART) — the state's independent price regulator — on Thursday. The Northern Beaches and three regional councils were given special rate variations. However, North Sydney ratepayers have escaped an exorbitant bump after the council's request for an 87 per cent increase in rates was rejected. North Sydney Mayor Zoë Baker said 'the system is clearly flawed'. 'It is incredibly disappointing that IPART refused both applications without considering even a partial approval of either, particularly the minimum rate application,' she said in a statement. 'Without responsible financial management and provision of adequate funding, the burden shifts to the next generation or the one after that. 'North Sydney Council's financial position is very well known and has been widely reported in the media over many years. If a council like North Sydney, subject to significant public scrutiny in media across the state, is unable to effect financial repair through applications to IPART, the system is clearly flawed.' The mayor also said 'tough choices and decisions' will be made by the council moving forward, including service cuts, asset sales and other measures. Additionally, North Sydney Council's special variation application to increase minimum rates for residents was also rejected. The request for rate hikes sparked scrutiny from hundreds of locals who protested against the North Sydney Council in February this year. Resident Jocelyn Guy, who took part in the protests, told the Daily Telegraph the council 'wasted so much money'. 'Why aren't they looking at (ways to raise money) instead of just trying to shove money in their coffers so they can spend it in more incompetent ways,' she said. Holding placards in defiance, with some in the public gallery yelled 'vote them out' while others cries of 'liar', 'shame' and 'sack them all' rang from the hundreds standing outside the council chambers. The decision has been a partial win for Northern Beaches Council, as their request for a 39.6 per cent increase in rates over a period of three years was approved to only 25 per cent over two years. Council Mayor Heins said the decision recognised the 'considerable pressures on Council's budget' 'The approval gives us the opportunity to achieve what we set out to do – maintain core infrastructure and secure financial stability,' she said. 'This has been a tough conversation to have with our community in this economic climate and we appreciate the feedback and input from our ratepayers.' The mayor said the rate hikes will 'better meet the real cost of maintaining (the) community assets' which has 'increased significantly over many years alongside the financial impacts of multiple natural emergencies, cost shifting and other budget pressures'.
