In May we reported on Raglanites receiving notices from Quotable Value advising of large increases in property values. People were concerned about the impact this might have on their rates. The Waikato District Council has now provided information on the average property value increase for Raglan.
Quotable Value has told the council that the average increase in property values in the Raglan Town area is 42% for the past 3 year period. This compares with an average increase of 15% for the Waikato District overall. So Raglan values are up close to 80% greater than the average.
These property values are used by the Waikato District Council to calculate the CV part of the rates. In the discussion version of the annual plan, the District Council proposed an average increase of 9% for the CV rate. Councilors have yet to make a decision on this. However if it is implemented, a senior WDC staff member has confirmed that for Raglan Town, the increase in the CV rate would be an average of 34.4%. So this part of the Rates bill would be an average of $1,789.54 per year for Raglanites with homes in the “Raglan Town” area.
This huge increase indicates that it is time for WDC to set separate CV rates for each area within the District.
The CV rate is only one part of the rates charged by the council. In addition to the CV rate of $1,78.54, there is the UAGC at $417.63 and the targeted rates at $2,365.03 making a total of $4,572.20 per year. (16.53% increase overall) And on top of that there are the water rates and regional rates.
The full rating tables for Raglan Town, Raglan North and Raglan South are shown below. We have asked the Council for maps of these three areas.