Council to set rates on Thursday

Auckland Council votes to approve its annual rates on Thursday, for the year starting on Friday.

The recommendations are for an average general rates increase of 2.4%, a uniform annual general charge of $394/property, the interim transport levy to continue and the farm/lifestyle block differential to be unchanged.

The 2.4% average general rates increase plus transport levy will work out at an average rise of 2.5% for residential & farm/lifestyle ratepayers, 1.9% for businesses.

The transport levy is $182.85 including gst for business properties, $113.85 for residential, farm/lifestyle and properties with no road access.

The proposed urban residential rate in the dollar of capital value is $0.00253439 and business $0.00693795.

The council set out a capital investment programme of $18.7 billion in its 10-year budget for 2015-25, while capping rates increases at no more than an average of 3.5%. Total council borrowings were forecast to rise from $7.2 billion to $11.6 billion, while assets were forecast to increase from $42 billion to $60 billion in 2024-25. For 2016-17, the 10-year budget forecast rates to increase by 3.2%, with $1.9 billion of capital investment and opex of $3.7 billion, and operating revenue continuing to be less than total opex, in line with the council’s policy of moving towards fully funding depreciation by 2025.

Links:
Governing body, Thursday 30 June at 9.30am, Town Hall:
11, Annual plan, adoption of the annual budget 2016-17
12, Rates setting 2016-17

Earlier story:
13 May 2016: The rating numbers council will vote on today

Attribution: Council agenda.

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