Feature article
Auckland property owners face rate hikes despite CV declines
Let's break down what's happening.
AI summary
Auckland property owners may see rates rise even if their Capital Value (CV) has dropped. This is because rates are based on the Auckland Council's overall budget, which is influenced by inflation and the cost of city services and projects.
Your rates are determined by your property's value relative to others. If your CV falls by less than the average, your share of the total rates bill can increase. Chief Property Economist Kelvin Davidson notes owners should plan for annual increases.
First up, what even is a CV?
So, why are my rates going up if my CV is down?
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