32280 (2025). Hon Dr Duncan Webb to the Minister of Justice

32280 (2025). Hon Dr Duncan Webb to the Minister of Justice: How does a Christchurch Justice and Emergency Service Precinct revaluation lead to increased expenses?

Hon Paul Goldsmith: CJESP undergoes revaluations to reflect current market conditions, infrastructure upgrades, and rising construction costs. As a high-value public asset, the updated valuation has direct implications on financial and operational planning. While the revaluation reflects the true value of the Precinct, it also introduces higher ongoing expenses across multiple budget areas, including depreciation, capital charges, insurance and council rates. These increases should be factored into future financial planning and asset management strategies.