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.