Tauranga City Council contracts Tauranga-based rating valuation specialists, Landmass Technology, to complete property valuations that are required by law. Landmass Technology employs independent valuers who are regulated and audited by the Office of the Valuer General.
The Role of Landmass Valuers
Landmass Technology is a Tauranga-based valuation company with the specific purpose of providing rating valuation services to local authorities. It currently employs 13 property valuers and has Valuation Service Provider (VSP) contracts for work with the following councils:
- Western Bay of Plenty
- Matamata Piako
- South Waikato District
The VSP contracts involve continually updating rating valuations held on the various councils’ District Valuation Roll. These updates take account of changes and work done to properties and are mostly triggered by the building consent and subdivision process. Once the building consent or subdivision work is completed, Landmass Technology Valuers are required to inspect each property and adjust the rating values.
When a property sells the sale price is compared with its rating value. Based on this comparison, if the sale price falls outside what is considered normal market movement, an inspection is required to confirm both the accuracy of the rating valuation and sale detail.
Every three years a district rates revaluation takes place and for Tauranga City the next revaluation is this year, 2015. The revaluation basis will be 1 July 2015 and the notices with the new valuations will be sent in November 2015. Most sales that occur during the year of revaluation will be looked at as they are the most important evidence of market levels at the date of valuation. The accuracy of the sale detail is often confirmed by an inspection and discussion with the owner.
An inspection can also be triggered if an owner objects to their property’s rating value.
All this work requires a high volume of property inspection, as this is an essential part of providing accurate rating values. In most cases, due to the large number of inspections completed each day, appointments are not made.
In New Zealand, Valuers have power of entry on any land. It is the responsibility of the owner, occupier or manager to answer any questions for the purpose of enabling a correct valuation to be made. This is authorised under Section 45 of the Rating Valuation Act 1998.
Last Reviewed: 15/03/2017