Auckland owners can now search updated property valuations

Auckland property owners can now access their updated property valuations, revealing an average 9% decrease in residential values. These valuations will be used to determine future rates. The valuations, conducted in May 2024, are based on the previous assessment from May 2021. Rate changes will vary; properties with value drops below the average will see rate increases, while those exceeding it will see decreases. The council emphasizes these valuations are for rate distribution, not current market value estimation. Experts suggest the valuations align with market changes, though current market value can be found elsewhere.