Health of Older People in New Zealand

Questions and Answers on Family trusts and house value assessment

How are family trust arrangements of 5 years or less duration assessed?
How is the value of my house assessed? Is it the rateable valuation or government valuation? How often will it be reassessed?

Back to Questions and Answers on Residential Care and Income and Asset Testing

How are family trust arrangements of 5 years or less duration assessed?

They are assessed in the same way as prior to 1 July 2005. Information on the policy of family trust arrangements can be found on the Ministry of Social Development website.

How is the value of my house assessed? Is it the rateable valuation or government valuation? How often will it be reassessed?

The most recent government valuation of a property is taken into account for the purposes of a financial means assessment. Valuation updates vary nationally depending on the Territorial Local Authority, but are generally every few years.

If a person qualifies for Government funding (the residential care subsidy) then their house, along with their other assets, will not be asset tested again, unless their circumstances change.

For more information refer to What happens if the circumstances of the person in long-term residential care change?

Page last reviewed: 20 July 2007