With new valuations coming in, and expected to be much higher than last time, surely this will mean all our rates will be going up?
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Will Auckland rates rise?
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rates will rise anyway, average 2.5% this year, possibly up to 10?% next year
but that's an average over the city
rates are a 'share' of the cost of running the city
if every property rose 100% in CV then every rates rise would be 2.5% this year
but the rises won't all be the same
it looks like manukau bridge? CVs might rise by the highest at 80%?
while remuera rates may rise by the lowest? at 50%?
with the average across auckland being 70%
in that case a typical manukau bridge rates bill may rise by 10%?+2.5% =12.5%
whereas remuera may rise by -1%?+2.5% =1.5%have you defeated them?
your demons
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From my current rates bill the CV is a factor in only the "General Rate" portion of the bill. It makes up around half of the total bill(depending on the property).
Other items are:
Interim Transport Levy
Uniform Annual
Waste Management
The current multiplier on the "General Rate" is CV* 0.00259753
I am guessing that the CV will increase,(kinda a given)and that the multiplier will decrease(but not by as much). End result being that this portion of the rates bill will increase.
I am also expecting the other items to increase too.
The overall impact I expect is an increase in rates of 5% despite the 2.5% that the council is spouting.
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Originally posted by Dunning View PostI am guessing that the CV will increase,(kinda a given)and that the multiplier will decrease(but not by as much). End result being that this portion of the rates bill will increase.
I am also expecting the other items to increase too.
The overall impact I expect is an increase in rates of 5% despite the 2.5% that the council is spouting.
It all depends on how your value changes compared to the average - the same rates demand pool is distributed between all the city rate payers - the council doesn't get more money as a result of a revaluation.
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Originally posted by Wayne View PostIf your CV go up by more than the city average you will have a greater than average rates increase.
It all depends on how your value changes compared to the average - the same rates demand pool is distributed between all the city rate payers - the council doesn't get more money as a result of a revaluation.
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