Archive for the 'Local Body Taxes' Category

Rates increases anger residents

Monday, May 1st, 2006

Whilst here at taxblog.co.nz we usually write about national and government taxes. The blog is dedicated to tax as a whole. This is a story I picked up from David Farrars blog at www.kiwiblog.co.nz
Waiheke Island residents are reportedly angry at their rates increasing by 50%. The story is in the NZ Herald here.

Wendy Gordon, whose 40ha farm at Awaawaroa Bay soared in value from $1 million to $7 million in the latest property revaluations, said her rates were forecast to increase from $2583 to $12,600.

Waiheke residents are big losers from Auckland City’s latest three-yearly property revaluations. Properties that have risen in value by more than the city-wide average of 42 per cent will pay a greater share of the total rates pie – and Waiheke values have risen by 98 per cent on average.

If I had a property that went up to $7 million $12,000 in rates would be the least of my worries. This is what we call a high quality problem to have. Wendy Gordon can always remortgage her property if she gets upset at the $12,000 bill.

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