Rating values reflect the value of property (excluding the chattels) and are prepared on behalf of TCDC by Quotable Value (QV). The revised rating values are effective as of 1 September 2020 and the new notices of valuation are being posted to property owners and ratepayers from 2 December. The District Valuation Rolls are open for public inspection, free of charge, during regular office hours (8am – 4:30pm) at our Thames service centre at 515 Mackay Street. The revised values can be viewed until close of business on Friday, 22 January 2021. Objections to the revised valuations can be lodged in writing or online at www.ratingvalues.co.nz no later than 22 January 2021. Objection forms are available from our Council service centres, our Council website at www.tcdc.govt.nz/qv. They should be posted to: Quotable Value Ltd – Business Support Private Bag 39 818 Wellington Mail Centre Lower Hutt 5045 More information about “Understanding your Rating Value” can be found at www.ratingvalues.co.nz. How property values are calculated To calculate property values, QV compares recent sales in the area with the property being valued. Also considered are: Property type Location Land size Zoning Floor area Consented work (renovations, new build, subdivisions etc) The main trends for the district (Graph, above: Residential Dwelling Average Value) “Residential house values have grown very strongly this year – particularly on the eastern side of the Coromandel,” says QV property consultant Jarrod Hedley. “Though we’ve seen the most growth at the lower end of the market, there remains strong demand for beach-front property.” Our district has 29,242 properties. The overall value of property in the district has increased 19 per cent since the 2017 valuation to around $25.085 billion. Residential properties make up 76 per cent of the property numbers and 73 per cent of the district value - have increased on average 20.9 per cent to just over $822,000. Lifestyle properties make up 13 per cent of the property numbers and 12 per cent of the district value - have increased around 13.1 per cent. Commercial and Industrial make up 3 per cent of the property numbers and 4 per cent of the district value - have increased on average of 27.7 per cent for commercial and 18.5 per cent for industrial. Rural properties make up 2 per cent of the property numbers and 5 per cent of the district’s value - have increased on average 27 per cent based off strong increases in horticulture and forestry.