In June, the City Council confirmed a rise in total rates of 3.9 per cent to fund city services and facilities. The increase is in line with forecasts in the Council’s 10 Year Plan.
This works out to be an extra $175 for residential properties with an average land value of $147,000.
Some residents can expect to pay more as a result of new land valuations which were independently assessed in 2015. Residential land values in some parts of the city increased significantly more than others – some for the first time in more than a decade - while land values for many central city commercial properties went down. Land valuations are updated every three years to make sure rates are spread as evenly as possible.
“The Council is committed to keeping rates as low as it can, but as always this commitment has to be balanced against the needs of our city now and into the future,” says Paddy Clifford, Palmerston North City Council Chief Executive.
“More than a third of the increase will fund much needed water and wastewater projects, and ratepayers will also benefit from increased investment in economic development, events and festivals.”
Next year will see Palmerston North host the New Zealand Rural Games for the first time. Other large scale events in the city will include the Gold Cup Racing Festival, New Zealand Food Awards, Reel Earth Film Festival, Lions Fireworks at the River, and a new Winter Festival.
“These events will help to create a much more vibrant and lively city, and received wide spread support in the submissions made on the Annual Plan for 2016/17,” says Mayor Grant Smith.
“This investment will mean our city will become more prosperous, attract more visitors, and provide a boost to our local economy.”
Council has also committed to making a contribution towards the key sector of education, with support of $50,000 a year over three years towards the restoration and refurbishment of Massey University’s old refectory building. The city will benefit from the opportunity to use the space for events including civic, citizenship and international receptions.
Ratepayers will continue to benefit from a high standard of day to day services including clean water, rubbish and recycling services, playgrounds, sports fields, parks and reserves.
The Annual Plan for 2016/17 includes detailed information about how rates will be spent and can be found on the Palmerston North City Council website.