General Property Revaluations

A rating valuation is a three-yearly assessment of a property's value and is determined by house sale prices on a specific date. We use these valuations as a guide for setting your rates. 

You should know

Matamata-Piako property owners will be sent their updated property revaluation notices the second week of July, 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 objection period for the 2024 property revaluation closed on Monday 25 August 2025.

Why we revalue properties

Revaluations are required by law and we do them because we want to set property rates fairly.

As property values are always moving we need to update our rates distribution to maintain fairness.

The aim of the general property revaluation is not to provide values for property owners to use for marketing, sales or any other purposes.

How often we revalue properties

The law requires all councils to revalue properties within their boundaries every three years. 

Properties in the Matamata-Piako District have been revalued as at 1 July 2024 for the purposes of setting the rates from 1 July 2025. 

How we calculate property values

Your rating value is prepared on behalf of Council by Opteon, an independent valuation service provider. Our valuers work with independent organisations to determine the values. The Valuer-General audits these values to ensure accuracy.

Factors they consider:

• Property type.
• Location.
• Land size.
• Zoning.
• Floor area.
• Consented work (renovations, new build, subdivisions etc.).

What a property value is made up of

Capital value (CV)

The most likely selling price at the date of valuation. It does not include chattels, stock, crops, machinery or trees. Residential values include GST, other property types do not.

The CV is also known as Government valuation (GV) or Rateable value (RV), and is the value of a property for rating purposes, not the current market value of your home. It should not be used for insurance purposes.

Land value (LV)

The most likely selling price of the bare land at the date of valuation. It includes any development work which may have been carried out, such as draining, excavation, filling, retaining walls, reclamation, grading, levelling, clearing of vegetation, fertility buildup, or protection from erosion or flooding.

Improvement value (IV)

This is the difference between the capital value and the land value. It reflects the value of the property's buildings and other structures.

The IV is not an assessment of the replacement cost and should not be used for insurance purposes.

Impact of a revaluation on property rates

A change in valuation does not necessarily mean a change in rates - the revaluation doesn't change the total amount of money that council collects across the district. Your rates will only be affected if your property value has increased or decreased significantly more or less than average.

Changes to property between revaluations

Valuation notices are also issued between revaluations when changes are made to properties, for example, if land is subdivided, or a building is built or demolished. If this happens, the values are back-dated to the date of the last general revaluation. This ensures Council and ratepayers are comparing apples with apples.

What if my property details are incorrect?

If your name has changed, address details are incorrect or you are no longer the owner/ratepayer of this property, please update your details by emailing This email address is being protected from spambots. You need JavaScript enabled to view it.

Can I use this valuation to finance, sell or insure my property?

It is not the purpose of this revaluation to provide values for property owners to use for financing, marketing, sales, insurance or any other purposes. The values are as at 1 July 2024, so may no longer be current or relevant for any purpose other than calculating rates.

Privacy Act

The contents of your valuation notice are contained within the public register known as the District Valuation Roll, which is available for inspection by the public at Council Offices free of charge. The personal information MPDC holds relating to your ratepayer details is initially collected from the notice of sale information supplied by your conveyancing lawyer. You may have access to any information held about you and you may ask for any corrections to be made by emailing us at This email address is being protected from spambots. You need JavaScript enabled to view it. or going to the Customer Change of Details form.

General property revaluation