Yesterday the Valuer General deferred the revaluation of Queenstown Lakes District properties taking effect for rates until 1 July 2022.
The Rating Valuation is the estimated property price that is used by the Queenstown Lakes District Council and Otago Regional Council to determine the rates payable for that property. Property owners in the Queenstown Lakes District normally receive a triennial Notice of Rating Valuation with the latest valuation having been due in 2020, the deferral has been approved to take place in 2021.
This deferral is the result of the global COVID-19 pandemic and the QLDC not believing a credible valuation can be undertaken due to “the unique circumstances of the global pandemic and its effects on the district and national property markets.”
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