Flood costs hit regional ratepayers
Wednesday 4 August 2004
Horizons rate increase this year will be 10.94 percent.
By The Landlord
An increase of 11.24 percent was proposed in the draft long-term council community plan, with 8.7 percent of the rate increase going towards storm recovery costs.Much of the repair costs are in the damaged river and drainage schemes, with 23 of the region's 31 schemes damaged in the February storm and flooding.
Repairs will cost about $17.9 million, with $988,000 coming from ratepayers through the special storm recovery rate, council chairman Chris Lester said.
Read More - Opens in a new window
Commenting is closed
Property News
Weak sales, resilient prices
Auckland’s housing market saw another slump in sales volumes in May but prices are holding steady, according to the city’s largest real estate agency.
House Prices
House price drops are short-lived - Alexander
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
Commercial
Resilience needed in face of change
The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.
Mortgages
Bank LVR limits on hold
Banks have not relaxed loan-to-value ratio limits for investors, despite the Reserve Bank's move to scrap LVR rules.
