Rates Review 2021
December 10, 2020
Many of our property owners will have received new property valuations. These revaluations show a significant range in valuation changes throughout our District, with some properties receiving very large increases. While for some it is positive to see a large increase in the value of these properties, this also has an impact on the rates that each property is charged.
Generally, somewhere between 15% and 35% of a residential property’s annual rates bill will be based on the property’s capital value. The degree to which the proportion of a property’s rates increases (when the property value may have increased) depends on how the property’s value increases, compared to the combined value increase of all properties in the District.
Council are working to ensure any rates changes implemented in 2021 are restrained to the extent practicable.