Revenue and Financing
Policy Consultation 2021

has closed

We’re reviewing our Revenue and Financing Policy as part of our three-yearly review of our Long-Term Plan.

The Revenue and Financing Policy sets out how the Council funds each activity it is involved in.

The draft 2021-31 Long-Term Plan proposes the introduction of a new compliance targeted rate, to fund work driven by central government to deliver our water services and make changes to our District Plan, which is increasing our costs.

This work will be undertaken (and the cost incurred) over the duration of the 2021-31 Long-Term Plan, but the portion of the government compliance targeted rate aimed at District Plan costs will only be collected over the first five years. In the first year, the compliance targeted rate would be equivalent to a 4.5% average rates rise, increasing by 4.9% annually from 2022/23.

We’re also proposing to transfer funding for development at Hamilton Gardens from a targeted rate to the general rate.

These changes, combined with the increase to the general rate, would mean an 8.9% average rate increase to existing ratepayers in 2021/22.

If we funded these costs through our general rate, it would have the same impact (an 8.9% average increase in 2021/22) on ratepayers.

Both changes would take effect from 1 July 2021.

From 1 July 2022 the average rates increase is proposed to be 4.9% each year. Once the costs to fund the District Plan changes have been collected, the government compliance targeted rate reduces from 2026/27 and the general rate increases meaning the average remains at 4.9%.

The remainder of this policy has been considered during the review and is proposed to remain unchanged. This is because the other provisions are considered fit-for-purpose. You can make a submission on any of the policy provisions, including those that are proposed to remain unchanged.

Click here to read the full policy and our proposed changes. 

5 March - 7 April
Mayor and Councillors consider all the feedback from the community
13 – 15 April
Verbal submissions – your chance to talk about what you’ve told us
4 – 6 May
Mayor and Councillors consider all the feedback from the community
24 – 25 June
Mayor and Councillors confirm the 2021-31 Long-Term Plan.
1 July
The 2021-31 Long-Term Plan is in place.