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 0.7053 0.0000 0.00%
AUD 0.9488 0.0000 0.00%
EUR 0.6318 0.0000 0.00%
GBP 0.5517 0.0000 0.00%
HKD 5.5057 0.0000 0.00%
JPY 78.5540 0.0000 0.00%

Commods

Commodity Price Change Time
Gold Index 1266.7 11.460 2017-05-26T00:
Oil Brent 52.5 0.720 2017-05-26T00:
Oil Nymex 49.8 0.910 2017-05-26T00:
Silver Index 17.3 0.130 2017-05-26T00:

Indices

Symbol Open High Last %
NZX 50 7434.5 7441.6 7434.5 0.10%
NASDAQ 6207.0 6211.5 6205.2 0.08%
DAX 12604.4 12611.5 12621.7 -0.15%
DJI 21070.2 21092.8 21083.0 -0.01%
FTSE 7517.7 7554.2 7517.7 0.40%
HKSE 25671.0 25724.4 25630.8 0.03%
NI225 19798.5 19801.6 19813.1 -0.64%
ASX 5789.6 5789.6 5789.6 -0.65%