19 Jul 2022
RONGOTAI INVESTMENTS LTD and RONGOTAI ESTATES LTD v WELLINGTON CITY COUNCIL and ORS [2022] NZHC 1665 [2007 Rating Valuation Appeal]
- Citation
- [2022] NZHC 1665
- Court
- High Court
On a purposive reading of s 21 of the Rating Valuations Act 1998, valuers must disregard lease provisions or circumstances peculiar to the property that do not reflect prevailing market conditions and must have regard to preserving uniformity with contemporaneous roll values; accordingly the Tribunal erred in taking Glasgow leases into account and in making a five per cent deduction to freehold land values for rating purposes. Leasehold-specific provisions that are not reflective of the prevailing market are to be ignored in rating land valuations, and leasehold sales should not have been exc…