What is the function of the Quotable Value (QV) system in New Zealand real estate?
Answer and explanation
Correct answer: D. Providing independent government and municipal rating valuations of land and capital improvement value
- Step 1: Originally a government department (Valuation New Zealand), Quotable Value was corporatized in 1998. Step 2. It provides rating valuations (RV or CV) every three years for local councils to calculate municipal property rates. Answer: Providing independent government and municipal rating valuations of land and capital improvement value. Why not the others: It tracks national property prices and sales trends across the country.
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