Rates: Where They Might Move For You

Some get increases, others get decreases

 

budget

Yesterday the Mayor tabled the Rating Policy to be set out for the 2015-2025 Long Term Plan, subject to public consultation early next year. You can the presser from the Mayor here: Mayor Tables Rates Policy

The supporting information can be seen below

 

I see our favourite Herald journalist has put up an article which outlines proposed average Rates rises or decreases per Local Board area. Below is a representative graphic from data the NZ Herald was sitting on:

Proposed Rate Movements Data Source: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11350888
Proposed Rate Movements
Data Source: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11350888

So living in the Papakura Local Board I am looking at a proposed Rates DECREASE of 4.8% similar to last time under the 2012-2022 Long Term Plan, while others in other Local Board areas face some stiff increases (looking at you Albert-Eden).

Remember though these proposed Rates movements can alter depending on where the Uniform Annual General Charge sits as well as any targeted rates you might be subject too.

A layman way at looking at whether you are up for a decrease or increase in Rates can be measured by the following:

  • Average Residential Valuations Increase is around 31-34%
  • If your actual valuations rise is less than the 31-34% average you are looking at a possible Rates decrease
  • If your actual valuations rise higher than the 31-34% average you are looking at a possible Rates increase
  • This is only for the General Residential Urban Rate component of your Rates bill. Even with a possible decrease there you can still face increases via the UAGC and any targeted rates

 

And so we need to make decisions on how high we want to be Rated and what we would like funded. That said, I did give my own alternative to boost the Council revenue stream in my latest podcast here: My Alternative Funding Package for Auckland’s Transport Projects