Residential land values in Tauranga City have on average decreased in the last three years while capital values remain flat.

For most residential areas the average capital value movement is less than three per cent. Residential land values have decreased by six per cent on average with a range between zero and 10 per cent decrease.

Property values will be presented to TCC today.

The figures, produced by independently registered Landmass Technology as part of the legally required triennial revaluations will be presented to Tauranga City Council today.

The valuers have noted that across the whole city, dwellings with monolithic cladding associated with leaky home issues are selling on average 5 per cent lower than other dwellings of a similar era.

Mount apartments have dropped in value by as much as 15 per cent compared with a drop of seven per cent for other apartments across the city.

Industrial and commercial properties have shown a small decrease in value, although a number of influences have created some bigger changes in some commercial and industrial properties.

The new values will be used to calculate rates over the next three years.

Tauranga City Council staff say reduced valuations are not expected to result in rates reduction.

As the majority of valuations are relatively flat, the impact on the distribution of rates will be minimal.

Mayor Stuart Crosby says the revaluation figures paint a positive picture for the city.

"Given the global financial crisis and the fact that our local economy has been somewhat flat over the last three years it is a very positive sign that the property market has remained pretty stable,” says Stuart.

'Even areas where the market has seen a drop in value have been starting to show signs of improving, which is great news for property owners and the city as a whole."

New valuation notices will be sent to ratepayers from Wednesday, November 14.

Ratepayers can view colour thematic maps on Tauranga City Council's website showing the previous three years sales used to model the new valuations and also the new values, colour coded, to show the percentage change for valuations around the city.

Information about the revaluation and how to object is on the Tauranga City Council website. Objections close on 11 January 2013.

Landmass Technology will respond to all objections before 1 July 2013, when the new values will first be used for rating purposes.