Funding Impact Statement Rating Area Average Average The next revaluation of the District will be released in September 2020. Land Value Capital Value Movement Movement Valuation changes prior to 2020 will only relate to property subdivisions, new Picton Vicinity – Residential/Rural 7.41% 14.01% improvements, and any alterations to the 1 July 2017 revaluation which are approved by Quotable Value Ltd or the Land Valuation Tribunal (as a result of revaluation Picton Vicinity – Commercial/Industrial 1.61% 1.33% objections lodged prior to 3 November 2017). General Rural Residential/Rural 16.57% 19.93% With a district-wide revaluation there is no direct relationship between valuation General Rural Commercial/Industrial 6.63% 10.85% movements and rates movements. General Rural Homestay/Farmstay 4.03% 11.90% A revaluation of the District does not increase Council’s rating income, but it does Sounds Admin Rural Residential/Rural (0.43%) 6.19% redistribute the incidence of valuation based rates between individual ratepayers. This means that even if Council were to levy the same amount in total for the year following Sounds Admin Rural Commercial/Industrial 0.06% 7.72% a revaluation, some ratepayers will have rate increases, while others will have rate Sounds Admin Rural – Homestay/Farmstay 0.00% 10.22% decreases. Utilities 0.00% 16.43% Rates levied on a uniform charge basis (eg; refuse and recycling charges) are District-wide - Total 21.45% 25.64% unaffected by a district-wide revaluation. The only factors responsible for increasing rates on an individual property are: The previous Capital Value revaluation movement as at 1 July 2014 was 9.61% and as If an individual’s property value increases by more than the average increase at 1 July 2011 was (18.26%). • for their geographic rating area. The following is a summary of the Capital Value percentage increase (decrease) • If an individual’s property value decreases by less than the average decrease movements for each of the Wairau Valley River and Kenepuru Road rating areas: for their geographic rating area. 1.07.17 1.07.14 1.07.11 • If an individual’s property value alters as a result of new improvements being added (only affects rates levied on a capital value basis). Wairau Valley River Class A Rate 45.17% 23.28% (27.41%) If the property changes its eligibility for separate service rates/charges (eg; it • Wairau Valley River Class B Rate 36.09% 23.37% (34.86% ) now qualifies for water, sewerage, refuse and recycling etc). Wairau Valley River Class C Rate 33.69% 18.76% (28.57% ) • If Council amends its Revenue and Financing Policy. Council amended its Wairau Valley River Class D Rate 33.59% 21.69% (22.69% ) Revenue and Financing Policy in accordance with that proposed in its 2018-28 Long Term Plan Consultation Document. Wairau Valley River Rural Urban 1 Rate 20.29% 3.07% (7.27%) If Council increases its rating income requirement through the Annual Plan • Wairau Valley River Rural Urban 2 Rate 25.48% 3.36% (10.80% ) process. Wairau Valley River Blenheim Urban 1 Rate 21.30% 4.42% (9.47%) Note: This revaluation, the geographic rating area revaluation movements are mainly Wairau Valley River Blenheim Urban 2 Rate 25.43% 4.15% (10.70% ) increases. Last revaluation, the revaluation movements included both increases and decreases. Wairau Valley River Blenheim Urban 3 Rate 24.96% 3.99% (11.33% ) Wairau Valley River Blenheim Urban 4 Rate 24.48% 3.45% (11.77% ) Kenepuru Road Rate 9.10% (12.02%) (9.07%) 2018-2028 Long Term Plan Page 290