Media Release: LINZ Issues New Rating Valuations Rules

21 August 2008

New Rating Valuations Rules have been released today by Land Information New Zealand (LINZ).

The Rating Valuations Rules set the minimum standards for rating valuations done by local authorities and have been updated by the Valuer-General Neill Sullivan to ensure they remain relevant.

The Rating Valuations Rules are issued by the Valuer-General under ss 5 to 5C of the Rating Valuations Act 1998.  The Rules are designed to ensure a nationally consistent, impartial, independent, and equitable rating valuation system that can be monitored and audited.

“The Rules have not changed substantially but they are now presented in a more logical format and key terms and definitions are more clearly defined,” said Mr Sullivan.

“Although the Rules set the minimum standards for rating valuations, councils can contract a higher level of service if they wish.”

LINZ consulted widely on the new Rules, including input from a committee of industry experts.

Nine submissions were received from groups and individuals representing local government, members of the public, valuers, and farming interests.

Mr Sullivan says these submissions helped determine the shape of the final Rules.

The new Rules will take effect from 31 March 2009.

The Rating Valuations Rules 2008 are available to download in full or in part, as is a summary of the main differences between the new Rules and those that preceded them (version 3.1):

• LINZS30300 Rating Valuations Rules 2008 (Rules 1 to 8, plus appendices)
• LINZS30300 Rating Valuations Rules - Part One: Rules 1 to 8
• LINZS30300 Rating Valuations Rules 2008 - Part Two: Appendices A to H
• Summary of main differences between Rating Valuations Rules version 3.1 and the Rating Valuations Rules 2008 (the Rules)

For background on the review, including related news and documents, read the Review of Rating Valuations Rules 2008.