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Sunday, August 21, 2011

Red Zones and rateable value

Today's Sunday Star Times has an article Offer to red zone owners a 'disgrace' by Lois Cairns.

The last part of the article covers the accuracy of rating valuations and retired valuer Roger Hallinan, who spent 40 years of his life valuing properties in Christchurch, is quoted as saying:
... rating valuations are easy to get wrong because they don't involve on-site inspections and are often determined by computer modelling. "It's recognised in the industry that mass-appraisal computer techniques employed by rating valuation companies can cause distortions and vary between being high and below the market," he said.
A very interesting article, especially if you feel the value attributed to your land is unrealistically low. Its in the newspaper today, or online at the Press here.

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