RDC Long Term Plan – 2012-2022 ‘Rating Framework’
As a result of the implications of the 2011 land valuations Rotorua District Council has been looking at a number of rating framework options.
Why? The new valuations show a decline in land and capital values of 12% across the board.
|
Property Category |
Capital Value Change |
Land Value Change |
|
Residential |
-8% |
-6% |
|
Commercial |
-14% |
-14% |
|
Industrial |
-5% |
-9% |
|
Lifestyle |
-6% |
-9% |
|
Dairy Farms |
-32% |
-38% |
|
Pastoral Farms |
-37% |
-38% |
These revaluations will have a dramatic impact on the incidence of rates if no changes are made to the rating frame work. This effect is particularly prominent for the farming sector (decreases) and the business sector (increases), especially in the City and CBD.
The Council’s current rating framework reflects a compromise between land value general rating and capital value targeted rates.
Included below is a table showing the comparison between current rates and option 2A/B for 2012-13. Option 2A/B is the preferred option selected by Councillors to be further modelled. This will be presented to Councillors at the Budget Meeting on 15th February 2012 and will be open to public submissions which will close in May 2012.
Rating Framework – Rural Residential – Lakes Community
|
Suburb |
No of properties |
2011-12 Total Rates average $ (excl. GST & EBOP) |
2012-13 Average $ Option 2A/B |
% |
| Hinehopu | 44 | 1,094 | 1,090 | -0.37 |
| Mourea | 218 | 1,885 | 1,941 | 2.97 |
| Okareka | 269 | 2,678 | 2,800 | 4.56 |
| Okere Falls | 275 | 2,179 | 2,197 | 0.83 |
| Rotoehu | 105 | 1,090 | 1,087 | 0.28 |
| Rotoiti North | 122 | 1,888 | 1,881 | -0.37 |
| Rotoiti | 336 | 1,425 | 1,512 | 6.11 |
| Rotoma | 224 | 964 | 971 | 0.73 |
| Tarawera | 409 | 2,231 | 2,308 | 3.45 |
Please note that option 2A/B includes an adjustment in the rural residential differential from 0.76% to 0.85%
For those who are able to attend the AGM on January 3rd 2012, it is hoped that there will be a presentation from RDC.
We urge you to get involved in this matter either individually or by giving your feed back to the LRCA.