Auckland Council's website especially developed to deliver the new valuations of homes for Aucklanders crashed on the morning of release on 10th November.
The three-yearly update of individual capital valuations are used by the council to set rates bills, and will be mailed to households from this week. The figures were set in July and rates calculations based on those figures will apply from July next year.
HOBANZ chief executive Roger Levie, cautioned Aucklanders in the NZ Herald:
"The government valuation is not a reflection of the market valuation of a property."
Mr Levie stressed the importance of using a private valuer to assess a home's worth, especially if it was to be used as security for a bank loan.
"Often the government valuations are done without going into the property so no estimation is done for the quality or condition of the interior."
The average valuation increase for all properties in the city is 29 per cent. Residential properties have increased by an average of 34 per cent, commercial 16.4 per cent, industrial 15.7 per cent, lifestyle 17.7 per cent and rural 4.6 per cent.