Western Bay Property Values Drop 2% in Latest Rating Revaluation

Western Bay of Plenty property owners are receiving updated rating valuations this month, completed by Quotable Value (QV) on behalf of Western Bay of Plenty District Council. The revaluation covers all 26,104 properties in the district, arriving by email and post.

The total rateable value for the district has come in at $42.76 billion — a 2% decrease since the last revaluation on 1 September 2022. Land values across the district fell more sharply, dropping 8.5% over the three years to reach $21.78 billion.

Council's corporate services acting general manager Matt Potton said the results reflect a general softening across much of the district, with notable exceptions. The Rangiuru Business Park has seen significant growth thanks to substantial development since the previous round. Smaller, well-located lifestyle properties with manageable land areas and realistic commuting distances to Tauranga are attracting stronger buyer interest, while larger or older properties needing capital investment are recording more pronounced value declines.

Potton was keen to reassure ratepayers that a drop or rise in a property's valuation does not automatically mean rates will go up or down — the impact depends on how your property's movement compares to everyone else's. The 2026/2027 rates requirement will be confirmed through the annual planning process, to be finalised in June. Property owners who wish to object to their revised valuation can do so online at westernbay.govt.nz/revaluation, or pick up a brochure from any council library or service centre.

Originally published in Katikati News (Sun Media).