Utilities come to grips with new rating basis

Utility companies are facing up to new compliance costs as more territorial authorities commission valuations as a basis for rating their assets such as power lines and gas pipes.

Companies like Telstra, Telecom and Natural Gas Corporation have paid rates on utilities in Auckland City for many years but rating valuation rules were gazetted last year requiring all local bodies to rate utilities.

Quotable Value has picked up much of the valuation work for councils like Christchurch City but smaller specialists such as Valnet have carried out much of the recent work in the greater Auckland area and several mid-North Island territorial authorities. A tender has been invited for the valuation work in Invercargill that is expected to be carried out next year.

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