Councillors approve final rates in line with Annual Plan

Ratepayers in the Queenstown Lakes District will soon receive notice of this financial year’s individual rates calculation and payment options. This follows Queenstown Lakes District Councillors’ approval of the expected average increase to rates of 6.5% for 2022-2023 at the Full Council meeting held online yesterday (Thursday, 1 September).

QLDC General Manager Finance Legal and Regulatory Stewart Burns said the increase was in line with the forecasts made in the 2022-2023 Annual Plan.

“Since Council adopted the Annual Plan at its June meeting we have completed our detailed work to calculate rates for the year incorporating any changes to the overall capital value of properties across the district,” he said.

“The total capital value increased by 3.2% in the year to 30 June 2022, slightly less than the 3.5% allowed for in the Annual Plan. In addition, the total number of rateable units for 2022-2023 is estimated to be 31,364 which represents an increase of 3.75% on last year. The total growth factor for the year is therefore in line with the 3.5% forecast allowed for in the Annual Plan.

The rates set for the year also reflect the latest three-yearly district revaluation with rates assessments for this year based on valuations as at 1 September 2021.

“Although the total capital value has grown by around 52%, the impact of the revaluation on rates is more pronounced for some types of property. In simple terms, if a property experiences a rating value change of significantly more or less than the 52% average, rates payable will change up or down according to the degree of difference,” he said.

Mr Burns explained further why the impact of the rates increase for 2022-2023 will not be even across all property types and locations.

“This is largely because of the impact of the district revaluation and of targeted rates which are often ward or scheme based. Most of the larger differences reflect a more favourable position.”

Setting Council rates is a procedural item that effectively closes the 2022-2023 Annual Plan process and the funding for the programme of works it sets out.

More information about rates and how they are set, including answers to some frequently asked questions, can be found on the Council website at www.qldc.govt.nz/services/rates-property

ENDS|KUA MUTU.

Media contact: communications@qldc.govt.nz or call 03 441 1802.