The city council is required to carry out a general revaluation every three years to ensure that rates are spread fairly across the city and in Banks Peninsula.
The job, which was contracted to Quotable Value (QV) entails revaluing more than 160,000 properties.
In 2016, the average home value was $529,000, while the average house price is now $540,000.
The biggest increase in residential values has been at the lower end of the market, while there has been a softening at the top end, analysis by QV showed.
Property owners can check new valuations online at ccc.govt.nz/rates from Wednesday 27 November. Notices informing owners of their new valuations will be mailed out in the first week of December.
The new values - sometimes called capital values - will apply to rates from 1 July 2020.
They do not affect the total rates collected by the council, which are set through the annual plan, but they do influence how much of the total is collected from each ratepayer.
“If the rating value of your property rises or falls, your rates won’t necessarily go up or down with it,’’ said city council head of financial management Diane Brandish.
“The important thing is how your property’s capital value has changed relative to other properties in the city. If your property’s value increases by more than average, then your rates bill will go up by more than average.
“If your property’s value increases by less than average, your rates bill will go up by less than average,’’ Ms Brandish said.
