Not necessarily. Your rating value is expressed as a share of the total value of all properties in the city so we can apportion the rates.
If all rating values increase by the same percentage, your share remains the same, and so do your rates. Of course, this is assuming that the city's expenditure stays the same.
For the 2021 revaluation the increase in land values varies throughout the city. Also, residential land values have increased by a larger percentage than commercial or rural land values. We're still assessing how the new values will impact next year's rates. We'll provide further information once we know more. The changes will not take effect until 1 July 2022.
If Council expenditure rises (as it is expected to do), your rates could rise irrespective of changes to your rating value, because the cost is apportioned across the city.