Matamata-Piako property owners will be sent their updated property revaluation notices this week, following the completion of the district’s 2024 revaluation. The new valuations are based on property values as at 1 July 2024 and have been used to help set rates from 1 July 2025. The 2024 revaluations replace the 2021 rating revaluations.

Between 2021 and 2024, average residential property values in Matamata-Piako increased by approximately 2% while dairy properties reduced by approximately 3.2%. Commercial and industrial property values saw the biggest increases at 5.85% and 14.4% respectively. Lifestyle properties increased on average by approximately 3%. Overall, the Capital Value of the district increased by 2.7%.

The revaluation process is carried out every three years and helps ensure rates are distributed fairly. While the total amount of rates collected by Council remains the same, updated property values are used to determine how rates are allocated to individual properties.

The new valuations are based on the market as at 1 July 2024. Because the property market is constantly changing, Council valuations do not reflect a property’s current market value and should not be used for insurance or mortgage purposes.

A decrease in a property’s value doesn’t necessarily mean a decrease in rates. What matters is how a property’s value has changed compared to others in the district. If a property’s value has dropped more than average, the rates increase may be smaller. If it hasn’t dropped as much - or has increased – there may be a larger increase.

Those who disagree with their new valuation are encouraged to visit our website to read our ‘Guide to objecting to the rating valuation of a property’ first. The objection period is longer than usual and is open now until Monday 25 August 2025. This will give you time to review your revaluation amount and the effect on your 2025/26 rates assessment, which is due to be sent out early August. To object free of charge, you must lodge your objection by Monday 25 August 2025. Beyond this date, objections are at the objector’s cost.

You can find out more about revaluations and lodging an objection at mpdc.nz/revaluations.