PHOTO: Palmerston North
In Palmerston North the Council (PNCC) sets rates based off land value, which generally increase 2-4% per annum regardless.
When it comes to your RV the increase in the past three years will most likely be in your Capital Value (improvements).
Here’s some information from PNCC, to explain the process further. (See the original story here on stuff.co.nz)
Palmerston North City Council finance strategy manager Steve Paterson said the rates for the 2018/19 year were already set, so ratepayers wouldn’t feel any effects of any readjustment until July 2019.
Because the council aimed to fairly match rates to land values, and spread the burden as widely as possible, an increase in rateable values wouldn’t automatically mean rates increases.
“If everybody’s property value went up, even by 30 per cent, that wouldn’t noticeably increase anyone’s rates.
“But if some parts of the city, or some property types, grew significantly faster than others, they may get an increase in rates.”
SOURCE WATSON REAL ESTATE
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