Land Valuation Tribunal of New Zealand Issues Decision on Rating Valuation Objection

Strategic Insights -

The Land Valuation Tribunal of New Zealand has issued a decision regarding the rating valuation objection by Brian William Wilson against Dunedin City Council for the property at 3 Macandrew Road, Careys Bay, Port Chalmers. The decision was made on November 6, 2024, and outlines the agreed-upon valuation for the property, which includes a capital value of $85,000, a land value of $75,000, and a value of improvements of $10,000.

Key Takeaways:

  • The Land Valuation Tribunal has ordered the valuation of the property at 3 Macandrew Road, Careys Bay, Port Chalmers to be $85,000 in capital value, $75,000 in land value, and $10,000 in value of improvements.
  • The objection was lodged by Brian William Wilson against the valuation provided by Quotable Value New Zealand (QV), which was contracted by Dunedin City Council.
  • The parties reached an agreement on October 14, 2024, to revise the valuation, which was confirmed by the objector on October 30, 2024.
  • The Tribunal's determination was made under s19(8)(b) of the Land Valuation Proceedings Act 1948, which allows for an order to be made by consent.
  • The agreed-upon valuation will be included in the relevant district valuation roll forthwith.

Statistics:

  • The capital value of the property at 3 Macandrew Road, Careys Bay, Port Chalmers is $85,000.
  • The land value of the property is $75,000.
  • The value of improvements on the property is $10,000.
  • The original notice of rating valuation recorded a capital value of $95,000, a land value of $86,000, and a value of improvements of $9,000.
  • The new valuation was agreed upon by the parties on October 14, 2024, and confirmed by the objector on October 30, 2024.

Sources:

  • [2024] NZLVT 58 IN THE MATTER of the Rating Valuations Act 1998 and the Land Valuation Proceedings Act 1948 AND of an objection under s36 of the Act BETWEEN BRIAN WILLIAM WILSON (ENV-2024-CHC-17) Objector AND DUNEDIN CITY COUNCIL Respondent.
  • Email of Tim Gibson for QV to the Registry (14 October 2024) confirming the agreement reached.
  • Letter of Brian Wilson to Registry received 30 October 2024 accepting the amended valuation.