In Auckland the latest Government Property Valuations have now been released and people are screaming “My GV is too low!”, or too high. As you can see by this article published nzherald.co.nz here
The fact is Government Valuation (GV), or Capital Value (CV), is NOT equal to the value of a home. It is compiled chiefly for rating purposes.
The GV always confuses everyone because it has the word ‘Valuation’ in it. It’s very important to understand how the Government Valuations are created now days.
Historically a certified valuer would actually go through every home with a clipboard and make note […]