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

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

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7869 -0.0007 -0.09%
AUD 0.9204 -0.0025 -0.27%
EUR 0.6311 0.0013 0.21%
GBP 0.4998 0.0010 0.20%
HKD 6.1019 -0.0037 -0.06%
JPY 92.6560 0.0090 0.01%

Commods

Commodity Price Change Time
Gold Index 1196.6 -2.970 2014-11-26T00:
Oil Brent 79.4 -0.640 2014-11-26T00:
Oil Nymex 73.7 -0.340 2014-11-26T00:
Silver Index 16.6 0.000 2014-11-26T00:

Indices

Symbol Open High Last %
NZX 50 5457.4 5462.1 5453.0 0.04%
NASDAQ 4760.2 4788.0 4758.2 0.61%
DAX 9934.8 9992.7 9915.6 0.60%
DJI 17812.2 17833.8 17814.9 0.00%
FTSE 6729.2 6749.9 6729.2 -0.09%
HKSE 24169.8 24228.1 24112.0 -0.45%
NI225 17310.5 17346.8 17383.6 -0.78%