Rates Re-Assessment in Manukau About to Arrive...
The last rates assessment was in 2011 and the next review will be complete from the 10th November 2014.
Since the 2011 rates assessment, the values in Manukau and most Auckland suburbs have increased by an average of 30%. The council does take what the home sold for during that time into account naturally so some may be in for quite a surprise when the new rating valuation comes out.
There are some positives to the rates increase ie when you do sell your home, the purchases will feel more comfortable paying more if the RV is closer to the price expectations or list price. The downfall is of course, is you guessed it - extra cost.
So in the past year or so, we have had a mortgage hike; rates hike and the LVR... and yet in Manukau, properties continue to sell well and prices are holding well.