There's good news and bad news about the city's triennial property revaluation.
On the one hand, residential property values across the city have declined since 2006 with homes now generally valued between three and seven per cent less than in 2006.

Industrial and commercial property values are relatively stable in Tauranga, but residential property values have fallen.

The good news is that property valuations are the basis of the city council rating assessment, and the three to seven per cent drop may take some of the pain out of the massive rates increases looming over the city.
The revaluation was undertaken by Landmass Technology Ltd. The revaluations will be posted out to ratepayers next week.

Since the last revaluation in 2006, when property values were high, there has been some turbulence.
The market went up, then down again, with many values remaining close to the 2006 figures.
While houses' overall drop in value is less than 10 per cent, apartment values are 20-25 per cent less than in 2006.
Commercial and industrial values are relatively stable. Values increased after 2006, but declined since then, though the decreases are not large. Tauranga remains a good investment option for commercial and industrial properties, which helps to curb decreases in value, despite rental price increases slowing down.
Rural properties also remain similar to 2006 values, mirroring the trend
shown by residential properties.
The council is begging off on an opinion about the impact on rates next year
As the new rating requirement is not yet assessed.
But generally if a property's capital value has reduced by more than the city average, next year's rates will probably be less than the average rates increase.
If a property's capital value has reduced by less than the city average, its rates next year will probably be more than the average rates increase.