How are property taxes calculated in... New Zealand. 1 The local government sets their budget. 2 Then a valuing company sets property values once every 3 year

How are property taxes calculated in... New Zealand. 1 The local government sets their budget. 2 Then a valuing company sets property values once every 3 years based on permits and local sales. 3 Then the mill rate (property tax percentage) is set at a rate to clear the budget. Tax rates are stable as property prices increase. The only thing that wouldn't be under your democratic control would be if your neighborhood suddenly became very desirable, changing your house price substantially while leaving other areas unchanged. If you cannot afford the tax bill, there are programs for low-income or retired persons to get debt forgiveness.