The city council is required to carry out a general revaluation every three years to ensure that rates are spread fairly across the city and in Banks Peninsula. The new values - sometimes called capital values - will apply to rates from 1 July 2020. “If the rating value of your property rises or falls, your rates won’t necessarily go up or down with it,’’ said city council head of financial management Diane Brandish. If your property’s value increases by more than average, then your rates bill will go up by more than average. “If your property’s value increases by less than average, your rates bill will go up by less than average,’’ Ms Brandish said.

Source: Otago Daily Times November 03, 2019 21:22 UTC