How do we calculate your rates?
Each year, in our annual and long term plans, we set the rates we need to collect to invest in our city and facilities. The amount you pay towards this amount is partly based on the capital value of your home (the building and the land).
Let’s say there were only two houses in Lower Hutt and they were both valued at $500,000, each would pay half of the years set rate amount. However, if one house was worth $600,000 and the other $400,000 the set amount would be divided 60%/40%.
How is your house valued?
This year QV have done a valuation and the capital value of some homes has changed (this is happening all over New Zealand). And in some cases this means that your home is worth more; however, it also means that you could be paying more rates.
Next week QV will send you a letter detailing the new capital value of your home. The letter will contain lots of useful information including what to do if you disagree with the value you have been given.
We will be using these new values to help us to set rates which will apply from Wednesday 1 July 2020 so it is important you read the letter. If you need any more information or have trouble understanding this process, we are always available on the phone or online.
The full audited data from QV is available from Tuesday 11 November at our libraries, hubs and online at huttcity.govt.nz/Searching-property-information.