If you’re building a new home in Christchurch or Selwyn, it’s important to understand how council rates work during the building process. Rates are initially calculated based on the land value only. Once your new home has been completed and assessed, the council updates the property’s Capital Value, which includes both the land value and the value of the home and improvements. Rates are reassessed every three years, meaning your payments may change to reflect updated land and property values over time
Rates for Turn-Key Builds
When building a Turn-Key home with Homes by Parklane, you will begin paying council rates from your settlement date. During settlement, your solicitor will apportion the rates, meaning you will only pay your portion from the day ownership officially transfers to you.
After your home is completed and the property has been revalued by the council, your rates will be updated to reflect the new Capital Value of the property.
Rates for Progressive Builds
For progressive builds with Homes by Parklane, council rates typically begin once ownership has transferred and will be updated once build is completed.
Our Recommendation
We recommend contacting your local council at the beginning of your build to confirm they have your correct contact details and postal address. This also gives you the opportunity to set up a direct debit for future rates payments if preferred.
Understanding how rates work during the building process can help you budget confidently and avoid surprises throughout your new home journey.