New company to reassess quake-hit properties
The reassessment of property values and rates charges in earthquake-hit Christchurch will be handled by a new company.
Quotable Value (QV) has been awarded a tender by the Christchurch City Council to carry out a citywide revaluation late next year.
The revaluation will be the first to take place since the city's devastating quakes after a scheduled 2010 review was delayed because of the September quake.
The city's rating valuation services had been managed by GEM Valuation since 2002.
The council has awarded the contract to QV, the largest provider of rating valuation services in New Zealand, after a tender process.
Council corporate services manager Paul Anderson said QV had been awarded the contract based on price and service quality.
He said the revaluation would be a "big job" as the quakes were likely to have affected the valuations of many properties.
The process was likely to take longer than usual because of the effect of the quakes and the high level of public interest.
"We expect there will need to be more individual inspections than in the past, an increase in the importance of valuer judgment and a greater level of interest from the public in the process," Anderson said.
The new valuations would be in place for the 2014-15 rating year after a standard objection period.
The council is required to regularly value all properties in the city, with rates charges allocated based on the valuations.
The city's current rating valuations are based on a 2007 review.
- © Fairfax NZ News
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