Registered Valuation of a vacant section

[Gourav]

Anyone here with some information on Registered valuation of a vacant section (In Hamilton)?
I have an elevated section that's currently in a bit rough condition due to big grass, pest plants and trees.
Does that gonna effect the overall valuation of the land? if yes then can it lead to have even lower value than the CV?
How much it will cost and any recommendation ?

Thanks

[Wayne]

People won't care to much about grass and weeds - they'll rip the section apart to build anyway.
Tree, if a lot of them, could have a small effect (unless they are protected) as it costs money to chop them down.

[MikeC]

Like any property, the registered valuation may be lower or higher than CV for a huge number of reasons.
Why are you getting a registered valuation?

[Gourav]

@MikeC Its for purpose of getting another loan and using equity. Houses in in the same street
got more than 100,000 of rise in last 15 months (Talking about a house not the sections)


@Wayne Yeah I guess you are right but Section also needs good earthwork as well. Fingers crossed..
Hopefully it will come back at least at par with CV ..

[Gourav]

A Bit off topic but anyone knows why we have to pay full rates for a vacant section as well ?
I mean rates include Rubbish collection, water service etc.. etc.. and none are getting used in case of a section ?

[Wayne]

A Bit off topic but anyone knows why we have to pay full rates for a vacant section as well ?
I mean rates include Rubbish collection, water service etc.. etc.. and none are getting used in case of a section ?

Because in Hamilton rates are Land value based.
Moving to Capital value but being done over a number of years.

Land value rates discourages people from keeping vacant sections which isn't a bad thing.

[Wayne]

Also, regarding the water - for all the council know you may have turned the section into a big garden and use lots of water - maybe Hamilton needs water meters (just joking).