Posts by Ross Mason
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Surely what I read has to be based on the GV???
I looked up CCC Valuation system where it clearly states that the rating valuation is also known as the capital value.
The Council rates are allocated to properties substantially on the basis of capital values.
Under both the Rating Valuations Act 1998 and the Local Government (Rating) Act 2002, the Christchurch City Council is required to value all properties for rating purposes.
The Council has engaged professional, independent valuers to determine capital values. This ensures an appropriate separation between value setting and rating policies. Our valuer is GEM Valuation and can be contacted on phone (03) 365 6720 .
A rating valuation (also known as Capital Value) reflects the property's market value at the date of the valuation. Does not include chattels ( e.g. carpets, drapes, light fittings), stock, crops, machinery or trees. This is then broken down to land value and improvement value.
The value of the land is defined as the probable price that would be paid for the bare land. This includes any development work that may have been carried out (e.g. drainage, excavation, filling, retaining walls, clearing of vegetation).
The value of improvements is calculated by subtracting the land value from the capital value, and represents the extra value the buildings and other developments give to the land. For a residential property this figure would generally represent the value of the house, garage and any site development.
It looks pretty clear, But I have to ask David what is this "book value" you are talking about???
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Umm...Have i understood correctly.
Here is what John and Gerry said yesterday:
For people who owned property with insurance in the residential red zones on 3 September 2010 there will be two options:
•the Crown makes an offer of purchase for the entire property at current rating value (less any built property insurance payments already
made), and assumes all the insurance claims other than contents; or
•the Crown makes an offer of purchase for the land only, and homeowners can continue to deal with their own insurer about their
homes.Haywoods have insurance, therefore they have the option of taking the Govt deal of buying out at the 2007 ratable value, The WHOLE lock stock and barrle - as far as I understand it - of land and house at the Govt GV.
If they have made documented improvements with building permits and receipts they can claim the extra.
Do the Haywoods still lose on the deal???
....unless the Chch ratable value is based on land value, not capital value???????
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From Rex:
I will interject the comment, however, that the new paradigm for dealing with statistics , peer-reviewed research etc amongst politicians (especially my personal favourite, the Attorney General of WA) is to blithely state "I don't accept that" leaving the profferer of said data slack-jawed in amazement at the sheer chutzpah and rendering moot any and all research that doesn't accord with the government's view.
Well, Prof Gluckman is fighting the rear guard action to try and get some sensible policy based on evidence. I am absolutely certain it does not only mean science evidence. But throughout all Govt organisations.
Watched Media 7 tonight and agree Russell, The Judge gave a good interview. The idea that victims may be getting more than the right share of the limelight came up and I have to say i have a suspicion that "the media" fuels the pack rage that post court case interviews on TV invoke. The 90 second bite has a lot to answer for.
Followed immediately afterwards by the Court Report chatting about Bill Wilson. How the hell do you get such priceless info into TV1 and TV3?? Impossible.
But, TV3 have no problem in screening the claptrap "Pseudo- doco" on the fear of cellphones and power lines last night. Fancy NZ on Air giving money for such "fact based" programmes.
It comes back to a lack of bullshit detection throughout "the system" I am afraid.
So, Please support the Gluck!!
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Well. It looks like it is happening. But I keep getting the Rawhide theme song trolling in my head. The quakes "Rolling rolling rolling". Visions of Gun Slinger Gerry and Sidekick John cutting them out, ride 'em in, move 'em on, Headn' 'em up. Rope 'em, throw 'em brand 'em. Soon you'all be living high and wide.
Rawhide Theme. Although Jake and Elwood's version was visually more exciting.
Someone just told me that Bexley used to be the tip as well as a swamp.......what f*&kwit council let that happen???? The scary bit was this comment off Stuff that implies it will get worse:
Rogers said there had been a lot of ground settlement, reducing the thickness of the crust between the surface and the ground water table. It made liquefaction worse and made it harder for the ground to support buildings.
and
In the Horseshoe Lake area of Burwood the drop was 1 to 1.5 metres.
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Retreat Rd...well picked!!!
A tactical retreat is a perfectly legitimate method of "GET THE F*&K OUTTA HERE!!"
Heh. Similar language reminds me. I heard a Lyttelton Tunnel story the other day. (Would love to get confirmation it happened BTW). A bloke was driving very sedately at the speed limit through the tunnel with a cop right behind. The tunnel and road started shaking in a quake (which one?). The guy in the car hummed and harred (spelling?) about what to do. Just then, over the loud hailer from the car behind came: "Put your bloody foot down and lets get the f*^k outta here!!". They did.
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Hard News: Christchurch: Square Two, in reply to ChrisW,
Thanks ChrisDub. I kept the quotation marks for that reason. One presumes the volcanoes of the Peninsula have inserted themselves through the crust and through the general area of the east coast fault zone. Is it likely that they are acting as a "door stop" for the faults along the east coast?
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Have been checking the Christchurch Quake Map. Noticed the splurge of quakes mainly on the plains from Sept to Feb. Then the dump on the Port Hills after Feb. Now checking the last 7 days it is obvious a new NW/SE line is developing parallel to the north coast of the Penisula from the north head of Lyttelton Harbour.
GNS has published the report of the newly discovered faults in Pegasus Bay. It shows the two previous quakes quite nicely.
The "active faulting likely" areas look likely candidates for the latest batch maybe??? (Seismo comment anyone???)
One could hazard a guess that these things are creeping east.....could they head towards and possibly link up to the Kaikoura trenchy thing out there??? Again, any Seismo comment??)
Geek Black Humour Warning: "Wow!! Look at all that Data."
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No, they are bitching over the small print about who pays when......
http://www.stuff.co.nz/business/rebuilding-christchurch/5141355/Questions-over-quake-insurance-cover
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It IS complicated. Maybe an option to consider is "we" - the Govt - decide to buy up the land to a bigger section size to compensate the limit of $50,000 for land, negotiate with EQC and the insurance companies and come up with a moving and rebuilding package for those who are in the "gotta get outta town" parts. Why not move the historic homes (survived and recoverable ones) out as well?
I can imagine the shenanigans around building a freaking-out Tsunami wall.....where would it go? How high? How far up the estuary? Heathcote? Avon? Brighton?
And back to sea level rising. Afterall, it is likely to happen in the equivalent lifetime of an old Avon-side house. A 100 years is not very long.