Feature article
Auckland property owners face rate hikes despite CV declines
Let's break down what's happening.
AI summary
Auckland property owners are seeing rate hikes despite falling Capital Values (CVs). This is because rates are based on the council's total budget needs, which are rising due to inflation and major projects, not just individual property values.
Your rates bill is determined by your property's value relative to others. If your CV falls by less than the city-wide average, your share of the total rates bill can increase. Homeowners can appeal their CV but should plan for annual rate increases.
First up, what even is a CV?
So, why are my rates going up if my CV is down?
Author
Discover More
In Auckland, this villa would set you back $2m - in this town, it’s less than $700k
This beautifully updated Blenheim villa has all the charm of Ponsonby – for under $700,000.
They rescued a fading coastal landmark. It’s now the suburb’s priciest home
A once-tired Piha property has become the suburb's most expensive home listing at $11 million.
Search
Other articles you might like
