Tasman property values up 72pc

The Quotable Value revaluations show Tasman land values have risen 122 per cent in the past three years – one of the biggest increases in the South Island.

The increases were the biggest jump in land and capital values since the 1970s, Tasman District Council corporate services manager David Ward said. The revaluation had taken the value of the average Tasman home to $351,000 and increased the district's worth to $10.56 billion.

Property owners whose capital values had risen more than the district average of 72 per cent would face higher general rates next year, he said.

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