crumpy10

Hi

just been looking on trade me for rural properties, and have seen the asking price of $200k but the rateable value is like over 1 million.....

what does the rateable value mean? i have looked on line but cant seem to understand the jargon...... either that or just too tired!!!!!!

thanks heaps, i know its a boring subject.....

Anna

littleal

It's a bit like Council Tax banding in the UK. It doesn't necessarily relate to the market value of the property.

pricklykina

Check out the QV site

Gives an overview...just means how much the council value yr property at and set rates for. Varies widely from the actually property value in most cases.

On the QV site you can pay to get ball park values on properties that you are interested in..or pay a valuer to do the work.

PS
YAY!..another Norfolk person!

BEVS

link please, then some may be better placed to give a guide line.

Bo-Jangles

Not sure what the OP has seen but the rateable values don't generally vary that much. An asking price of $200k and rateable value of $1 million, that's just insane or a misprint.

If you have the propery address, you can usually get the rateable value from the local council website and this tells you value of land and buildings separately and should give a fairly reasonable ball park of what you should expect to be paying for said property.

crumpy10

isnt it just typical?

I cannot find that property anywhere on trademe now!!!!!!!!!!!!!

I was trying to link it, so I will persevere and put it on when I can....

Many thanks though for the advice

Cheers

Anna

crumpy10

found the link!!!!

only taken me a week......

so any help on what the rateable value on this property means, would be oh so helpfull

http://www.trademe.co.nz/Trade-me-pr...-245415168.htm


thanks

Anna

MnB

This looks amazing value.....$100,000 leasehold tho doesn't say how long left on lease (unless I missed that bit)

pricklykina

It doesn't say how much is left on the lease...Nor how much the lease is annually.
I'm not sure how rural working property works though and what other costs are involved.

The rates would be pretty steep and ontop of that a lease

Batty

Hi. Rateable value is 5% of the CV.