Beach houses

[George]

Our rates in Waitakere are $1486 yr based on a 2004 valuation of
LV 109,000, Value of Improvements 126,000 for a CV of 235,000.
Our new valuation is 315,000 based on an increase in LV to
195,000 while improvements dropped to 120,000.
The current rates for LV is obtained by multiplying by 0.004452 to
get $485 while the annual charge is $628, implying that the LV
is not the bulk of the rates demand.
With the current CV up to 315,000 the new LV charge will be about $868
if they multiply the 195,000 by the same amount.
I can't figure out why they boost the LV while the VOI dropped to 120k -
the council weren't very helpful with that question, and it made no
difference that I had painted the house and generally improved
the whole property.
Any thoughts on what the new rates might be based on the above figures?
George

[fungus pudding]

FP
The rating system consist of 2 components:-
[a] Use/location - this is calculated as a percentage of the land value from QV.
[b] Service provision (e.g water, refuse collection and so on). These are fixed charges set by the council.

[a] forms the bulk of rates demand and is directly related to land value and use (residential in this discussion). [a] is what I referrd to in my post.

NB I also mentioned rates on pp1 of this thread.

cheers

Thanks. Not all councils use the same formula. e.g. my local council uses improved values rather than just land value, and some use a sort of mix of unimproved and improved. Not all use fixed water charges, but install meters. Refuse collection is not fixed in many areas, but is user paid. e.g I use private rubbish service and pay nothing in my rates, or I can opt for the council's service.

[foodee]

FP
Agree that different councils use different permutations. Nevertheless a significant component of the rates demand is tagged to the value of the property - therefore any change here will affect the rates.

George
Had a look at my rate document. In Napier the % charge on land value is
.47710 plus UAGC fixed charge. All that comes to just under $1300.
The 'Service' component adds up to $500 in round figure.
It seems that the service charges are higher where you are.

cheers all

[fungus pudding]

[QUOTE=foodee;206383]FP
Agree that different councils use different permutations. Nevertheless a significant component of the rates demand is tagged to the value of the property - therefore any change here will affect the rates.



Not that easy. Only a change, plus or minus, outside the average change will affect it. For example if all values double exactly, or halve exactly there will not be any effect at all. Increases come about when annual budgets are done and rates are struck. Then increases or decreases relative to the average overall change play a minor role in fine tuning the new amount.

[lakedaemonian]

lakedamonian-- two day mulling now up---WHATS THE VERDICT--

We're in!!!!

We make settlement in a month

Now to sell our current home!!!! We are going to be VERY realistic about pricing our current house...worst case is we get stuck with both, but we live far, far beneath our means so we're not worried...hopefully another young family will get a great deal on our old house.

As far as the "rates debate" goes, our residential rates have risen 35% and our commercial properties have risen 65% on average.....it's good to be the local government

[tim23]

Good story I bet the plenty all over the country but not too many people owing up to that?

[lakedaemonian]

lakedaemonian i understand you moved in yesterday --- just got details of property(sections) i had at doubtles s bay karikari peninsular in 03-bought for $95000- sold $121000 march 05-- since sold again $145000-- now aparently on market at below 03 price $94000-- beautifull uninterupted ocean views 600 mtrs to sand-sea and many many more for sale similar circumstances--- 4hours from auckland---how the mkt changes

Yup.....we are all moved in and loving it....sorry for the delay in responding...just got back from a mostly work(but a bit of play) trip to Las Vegas....that an entirely whole other story!

The new place is IT for me........I'm not moving again.....ever

Extra garage space

Extra bedroom

Extra Storage times 10

Extra Yard/garden times 10

Extra privacy times 10

And we didn't pay much for it.

We're still getting our existing house to market with lots of valuable help from friends in the building/contracting industry, I will update on that as things progress, we still think we'll do well out of it......even taking into account the clear buyers market we are entering at full speed.

Vegas Real Estate..........now there's a CRAZY story

Construction towers for Africa, very little movement day after day, middle aged middle class looking folks standing in front of somewhat quiet construction sites hawking their own personal spec condos to passing foot traffic....I don't know how common it is, but I saw more than just several people doing that.

That place is insane...there's probably more unsold completed-semicompleted real estate in downtown Las Vegas(not even including outer suburbs or exurbs) than in all of NZ.

[minimoke]

Yup.....we are all moved in and loving it.

Hopefully you’ve got sand bags. Just heard Amberly Beach is being evacuated with the upcoming high tides. Stay dry!

[Dr_Who]

lakedaemonian i understand you moved in yesterday --- just got details of property(sections) i had at doubtles s bay karikari peninsular in 03-bought for $95000- sold $121000 march 05-- since sold again $145000-- now aparently on market at below 03 price $94000-- beautifull uninterupted ocean views 600 mtrs to sand-sea and many many more for sale similar circumstances--- 4hours from auckland---how the mkt changes

Any good places in that area for around that price?

[lakedaemonian]

Hopefully you’ve got sand bags. Just heard Amberly Beach is being evacuated with the upcoming high tides. Stay dry!

No need here, fortunately we are well placed.

But one of my staff who went home last night got his Merc stuck in a metre of water on a road above the Waimakariri that must have flooded very quickly before it could be closed to traffic.

He wound up on the roof of his car........

We are now calling him "the U-Boat Commander"........plagarized from the old 80's movie Risky Business