Ohaupo heads rise in Waipa property values

ELTON SMALLMAN
Last updated 05:00 27/11/2013

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Property values in Waipa have been marked up, by as much as 9 per cent is some areas.

A triennial property rating value review showed Ohaupo recorded the biggest jump in residential values, with an 8.3 per cent increase from a district average of 5.3 per cent.

Cambridge property values rose by 5.9 per cent, Pirongia by 5.6 per cent and Te Awamutu by 4.3 per cent.

Overall, the value of the district's properties grew by 1.6 per cent over the past two years, taking the total to $12.79 billion. In 2011, values dropped by 12.6 per cent.

The review analysed market values within the district and also covered Kihikihi and Leamington.

It included 11,808 residential properties with an average value of $323,391. There were 5094 lifestyle homes, farms, industrial and commercial properties.

Councils carry out the review every three years and the capital values are used to set residents' rates bills, scheduled for July 2014.

New Waipa mayor Jim Mylchreest said the district had made it through the economic downturn with good growth, and that showed in the capital value increases.

"At least we are actually increasing in value when a lot of local bodies are dropping in value," he said.

Commercial properties increased 2.8 per cent, lifestyle properties were up slightly by 0.4 per cent and dairy farms dropped 0.9 per cent.

Notices would be sent out to Waipa's 40,000 residents on November 28.

Ratepayers have until January 20, 2014, to lodge an objection to their property's value.

The rates-take for the last financial year was $41 million and Waipa District Council chief executive Garry Dyet said there could be an impact on properties that varied significantly from the district average.

Meanwhile, after holding his first council meeting, Mr Mylchreest felt he got through it relatively unscathed.

"So far it has been a stable and pretty sensible council really. It looks a productive three years coming up."

Mr Mylchreest previously worked in the council as a manager, so had no nerves before the meeting.

"I've been involved in council for so long," he said. " I was just concerned to make sure the meeting flowed."

Pirongia ward's Clare St Pierre, attending her first meeting as an elected official, said her introduction to local politics was daunting.

"I wasn't quite sure what it would be like," she said. "I'm not really in my comfort zone at the moment but we've got a mix of new and experienced."

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- Waikato Times

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