Auckland Council sets higher rates for residents, stable for business

Auckland Mayor Len Brown

Auckland’s average rate rise for the next financial year will be 2.5%, following adoption of a new plan.

The Annual Plan for 2014-15 indicates an investment into $1.15 billion of new and improved assets.

The average rates increase for the period was reduced from an average of 4.9% projected in the council’s 10-year long-term plan.

It is an average increase of 0.1% for businesses and 3.7% for residents.

The council says the annual plan included $183 million of efficiency savings to be achieved across council.

The plans also includes investment of $1.15 billion in new and improved assets, including:

  • $215 million to buy more electric trains and $70m to progress the City Rail Link
  • $97 million to invest in local and sports parks
  • $23 million to continue development of new libraries in Massey North, Te Atatu Peninsula, Devonport, Flat Bush and Ōtāhuhu
  • $23 million to upgrade town centres, including New Lynn, Westgate, Māngere,  Mt Albert and Pukekohe.

vyoung@nbr.co.nz


Got a question about this story? Leave it in Comments & Questions below.


This article is tagged with the following keywords. Find out more about MyNBR Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7299 -0.0016 -0.22%
AUD 0.9584 -0.0026 -0.27%
EUR 0.6468 -0.0027 -0.42%
GBP 0.5538 0.0009 0.16%
HKD 5.6590 -0.0119 -0.21%
JPY 73.3700 -0.1930 -0.26%

Commods

Commodity Price Change Time
Gold Index 1326.1 -11.740 2016-08-24T00:
Oil Brent 49.4 -0.270 2016-08-24T00:
Oil Nymex 46.8 -1.380 2016-08-24T00:
Silver Index 18.6 -0.360 2016-08-24T00:

Indices

Symbol Open High Last %
NZX 50 7410.3 7437.8 7410.3 0.23%
NASDAQ 5207.6 5230.6 5217.7 -0.12%
DAX 10576.6 10576.6 10623.0 -0.88%
DJI 18471.2 18497.7 18481.5 -0.20%
FTSE 6835.8 6836.2 6835.8 -0.28%
HKSE 22814.4 22898.1 22820.8 0.03%
NI225 16580.2 16628.8 16597.3 -0.25%
ASX 5561.7 5562.4 5561.7 -0.36%