Feature article
Auckland property owners face rate hikes despite CV declines
Let's break down what's happening.
AI summary
Many Auckland property owners are seeing rate hikes despite a drop in their Capital Value (CV). This occurs because rates are determined by the Auckland Council's overall budget, which is influenced by inflation and the cost of city services and projects.
Rates are calculated based on your property's value relative to others. If your CV falls by less than the city's average, your share of the total rates bill can still increase. Homeowners can appeal their CV.
First up, what even is a CV?
So, why are my rates going up if my CV is down?
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