House Value Rises for Kapiti District

October 19, 2017

 

The average house value in the Kapiti district is now $541,500, an increase of 37% on capital values three years ago.

 

Mayor K Gurunathan says the rise in property values over the past three years reflects the very real appeal of the Kapiti district.

 

The new rating valuations have been prepared for 25,599 properties on behalf of the Kapiti Council by Quotable Value (QV) and property owners will soon receive a 2017 Notice of Rating Valuation with an updated rating value for their property.

 

KCDC Group Manager Corporate Services Wayne Maxwell says valuations are one of the factors that determine how rates are allocated across the district.

 

He says Council will be looking carefully at the impact of the revaluations on rates and affordability across the district as part of the rating review, which is currently underway.

 

Council rates will not be based on the new 2017 rating valuations until 1 July 2018.

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