Auckland CVs?

[watchful]

I see that ACC's new CVs have been determined and will be released to owners in Oct 08. What does everyone think the standard increase will be? Are they fixed or will the current downturn affect the values?

I realise they are just a means to set rates etc but have always found them useful as a comparison of my estimated values.

[Tucker]

Do you think they will lower them considering it would mean they would have to lower rates, so may not be a true indication of the market.

[watchful]

Agree, must be higher but if they are supposed to reflect the next three years (and would have been calculated in June 07 - when the market was smoking) they may be substantially higher in some regions.

Am loking forward to the letters in the mail...

[CJ]

Sure they can lower them. CV are just a allocation method. your rates are:

your CV / total CV's * ACC budget.

[JohnL]

CJs right. Its just determines what portion of the rates you pay for. The annual budget and how much that increases each year determines the total rate take. The way some councils have doubled their staff, its no wonder we have been seeing increases well above the rate of inflation!!!!

And there's a huge variation in rates from council to council. It doesn't seem to be related to the size of the town at all ie Te Kuiti - very expensive, Tokoroa - moderate, Dargaville - very cheap!!!!

John