What's happening to your rates?
Your 2024/25 rates bill will change based on five factors
Your 2024/25 rates bill will change based on five factors
Differentials are used to fairly allocate the overall General Rate to different property categories. Council’s policy is to ensure each broad property category (e.g. residential) pays about the same overall proportion of the General Rate every time a property revaluation occurs. The Council believes the current split of the General rate ‘pie’ is fair (see the pie graph).
Every three years, district properties are revalued by Quotable Value NZ. Depending on the overall results of the District revaluation this can affect how much a property will pay towards the General Rate.
While each individual property will be different, the three yearly revaluation has meant changes in the overall value of property categories (e.g. residential).
For example, under the 2020 revaluation rural properties have generally declined in value, while residential properties have increased in value.
To reflect the current Differential split, Council needs to adjust the differentials and is proposing to again do this for this LTP (see the table).
Rates are complex, and every ratepayer is different. Due to the factors listed above, it is difficult to make a meaningful comparison with previous years. Below are some examples of proposed rates that would apply if our Long Term Plan went through unchanged, taking in to account the new property revaluations.
