Flood to add to rates costs

Monday 14 June 2004

February's floods could cost the region's 104,000 ratepayers extra money for the next five years.

By The Landlord

Horizons Regional Council is proposing that an extra 8 percent be charged as a storm-recovery rate on annual rates demands.

On a property with a capital value of $200,000, that would cost an extra $8.

This rate would decrease slowly over the next few years, stopping in 2008-09.

The aim is to raise an extra $2 million.

Horizons spokesman John McDonald said details of how the extra money will be collected depends on how ratepayers react to the idea.

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