If you live in the Auckland region, your council rating value (RV) also known as your capital value (CV) may seem low in comparison to what you think your property is worth. The QV House Price Index shows the average home value across Auckland has increased by more than 43 per cent since then. This means you can't look to your current rating value as a guide to what your home is worth in today's market. These improvements will only be reflected in your rating value if you let Auckland Council know. But it's important to do your research and understand the expected market value before you apply to borrow against it, put it on the market or look to buy.

Source: New Zealand Herald November 18, 2016 20:32 UTC