Rural land has been the big driver in increased property values in the Ruapehu district. However, while farm land is on the increase, the value of most residential properties has fallen in the latest Quotable Value (QV) assessment.
The rural sector, which contributes almost half of the district's value, has increased nearly 10 per cent with hill country sales being noticeably stronger compared with the levels set three years ago, said acting chief executive Margaret Hawthorne.
"In comparison, the residential sector unfortunately has not fared well, with the majority of capital values falling in most of the townships."
The new rating values for Ruapehu properties issued by QV are being posted now to property owners.
The property values which are updated every three years form the basis for how individual rates are set, though they won't be used for rating purposes until July 1, 2015. The new values give Ruapehu properties a total capital value of $4.22 billion - up 3 per cent - and land values $2.22 billion - up 3.8 per cent.