Property owners in the Western Bay will be receiving updated information about the value of their properties this week.

The district’s latest rating valuations have been completed by Quotable Value (QV) on behalf of the Western Bay of Plenty District Council, and are being sent out by email and post.

Updated rating valuations have been prepared for all 26,104 properties in the Western Bay, resulting in a total rateable value for the district of $42.76 billion – a 2% decrease since the last revaluation on September 1, 2022.

Land value across the district totalled $21.78b, representing a fall of 8.5% over the three years.

“Overall, the latest revaluation reflects a general softening in property values across much of the district, with stronger growth in high-demand areas, particularly the Rangiuru Business Park, which has seen significant development since the previous revaluation,” said the council’s corporate services acting general manager, Matt Potton.

Every council in New Zealand is required to carry out a revaluation at least every three years so rates can be accurately and fairly calculated.

All rating valuations are independently audited by the Office of the Valuer-General before being finalised.

They reflect the likely selling price of a property, excluding chattels, at the effective revaluation date – in this case, August 1, 2025.

Market movements after this date are not included in the new rating valuations, and they are not intended for other purposes, such as securing finances or determining replacement value.

Revaluations didn’t necessarily mean a rise or fall in rates, Potton said. It depended on how your property’s value changed compared with everyone else’s.

“We won’t know for sure what impact the revaluations will have on rates until we know what the rating requirement is for the 2026/27 year,” he said.

“This will be set through our annual planning process, which will be finalised in June. This is then divided across all ratepayers, and the value of your property is only one of the elements used to work out the amount of rates you pay,” he explained.

“Usually, only properties with an above-average valuation movement will pay higher rates. A below-average movement may mean you pay less.”

Joe Holmes, QV Upper North Island regional manager, said the Western Bay of Plenty is no exception to the general market trends observed across the wider Bay of Plenty and Waikato regions.

“Well-presented, modern homes continue to attract stronger inquiry and maintain value more effectively than the wider market, whereas older or less well-maintained properties are generally recording more pronounced value declines,” he said.

“We are observing stronger inquiry for smaller, elevated and well-located lifestyle properties that offer manageable land areas, good access and realistic commuting distances to Tauranga and surrounding employment centres. In contrast, larger holdings or properties requiring significant capital investment are attracting more limited interest.”

Commercial capital values had seen little change, while good-quality, well-located industrial property continued to see solid inquiry, said Holmes.

“Performance within the commercial sector remains location specific. An outlier is certainly the new Rangiuru Business Park,” he said.

Residential

Since the 2022 revaluation, the residential market has remained relatively subdued, with more vacant land availability putting downward pressure on land values.

Lower-value properties have held up well, supported by continued demand from first-home buyers.

Mid-to-high-value properties have been more affected because of higher interest rates and tighter lending.

Overall, residential values have fallen by an average of 7%, with the average dwelling sitting at $977,000, and the average land value down by 9.1% to $574,000.

Lifestyle

Lifestyle properties with manageable land areas, good access and realistic commuting distances to employment centres have fared better than larger holdings or properties requiring significant capital investment.

Over the revaluation period, the average capital value (CV) of lifestyle properties with dwellings has declined by 9.9% to $1,436,000, while the corresponding average land value has reduced by 14.6% to $770,000.

Commercial/industrial

Commercial capital values have changed less, with land down by about 5% overall. Values vary by location – Katikati shows minor positive growth, while the Te Puke retail market has experienced a modest decline.

Ongoing development in key industrial growth areas continues to underpin confidence in the sector. Overall, Katikati industrial saw a 2.2% increase in capital value, and Te Puke a 7.5% increase.

The Rangiuru Business Park is an outlier to the general industrial market trend, reflected in a 36.9% average increase in capital growth and 73.1% increase in land value in the southern rural area.

Horticulture/rural

There has been a slight softening of values for most kiwifruit properties between revaluation dates, although the market has strengthened since the August 1, 2025 revaluation date.

Pastoral and dairy property values have generally eased slightly, although this varies by location and asset quality. Low sales, elevated operating costs and fluctuating returns have influenced purchaser confidence and tempered value growth.

Further information on the revaluation process and how to make an objection can be found on the council’s property revaluation web page www.westernbay.govt.nz/revaluation, or people can pick up a rating revaluation brochure from one of its library or service centres.

Objections process

Objections to the revised valuations can be lodged online at www.qv.co.nz/services/rating-valuations/object-rating/ or in writing no later than Friday, April 24.

Objection forms are available at either QV’s Tauranga office – Level 1, 58 Devonport Rd, Tauranga – or one of the Western Bay council’s library or service centres.

Or people can phone QV on 0800 787 284 to talk to someone and have a form sent out.

More information about understanding rating values can be found at qv.co.nz/about/about-rating-valuations