Feature article
Auckland property owners face rate hikes despite CV declines
Let's break down what's happening.
AI summary
Many Auckland property owners face rising rates despite a drop in their Capital Value (CV). This occurs because rates depend on the council's total budget and your property's value relative to others in the city.
If your CV falls by less than the average, your share of the rates bill can increase. Higher council costs from inflation and major projects also contribute to rate hikes. Chief Property Economist Kelvin Davidson advises that CVs don't dictate market price.
First up, what even is a CV?
So, why are my rates going up if my CV is down?
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