What is a property CV?
The RV (or CV) is the value of a property at one given date, based on properties that have sold around the time of that one given date. It used to be referred to as a government valuation (GV). The last general revaluation was set at , and the next one will be in 2017.
What is the difference between RV and CV?
In Australia and New Zealand the rateable value (RV) is the value set by the local authority or council in order to determine rates for a property. The RV is also known as the capital value (CV) or the government valuation (GV) in New Zealand. Sometimes the RV is a good rough-guide of the market value for the land.
How is CV calculated NZ?
Capital value (CV) – The most likely selling price at the date of valuation. The CV is also known as Government valuation (GV) or Rateable value (RV). This is calculated as CV minus LV. The IV is not an assessment of the replacement cost and should not be used for insurance purposes.