Rating Value vs Market Value

An Invercargill City Council (ICC) rating valuation is an estimate at a stated date, used to help allocate council rates. ICC says the 2026 revaluation is based on property values at 1 July 2026 and revised values will become available later in 2026. The Council says rating values are not intended for marketing, mortgage or insurance purposes. Check ICC’s current rating-values page for the value and effective date that apply to a property.

A market appraisal answers a different question

An agent appraisal considers what a property might sell for in the current market using available evidence such as recent comparable sales, current competing listings, property type, location, land, condition, improvements and timing. The evidence and assumptions should be explained. A nearby sale is not automatically comparable, and an appraisal is not a registered valuation.

Check the dates on examples. An asking price is a seller’s marketing choice; a completed sale records one transaction for one property on one date. Neither guarantees a price for another home. If you need a valuation for lending, legal, estate or another formal purpose, ask the relevant adviser whether a registered valuation is required.

Understand the rating value process

Rating values and any objection process are time-specific. Follow the instructions and deadlines in the current notice, and contact ICC or its appointed rating valuation provider for current process details. Do not rely on a general web page for an individual deadline. A rating value is used to allocate rates, not to promise a sale price.

When comparing a rating value with an appraisal, check the valuation date and ask what has changed since then. Compare like with like, ask which sales were used and why they are relevant, and identify what information remains uncertain. For an appraisal discussion, contact Ray White Invercargill. Seek independent advice for a formal valuation or rating objection.