10304 (2024). Hon Kieran McAnulty to the Minister of Local Government

10304 (2024). Hon Kieran McAnulty to the Minister of Local Government: What are the average projected rates rises across the country for the 2024/2025 year?

Hon Simeon Brown: The current projected rates increase across councils are significantly impacted by the inflationary pressures left by the last government. Councils across the country have been signalling these projected increases for some time, which are due to a range of factors including planning for growth, higher-than-expected inflation, interest costs, and competitive job markets. Councils are currently in the process of developing their Long-Term Plans (LTPs), which they are consulting on, including rating intentions. I am advised by officials that the average projected rates increase at this point in the LTP process is approximately 15%. Ultimately, rates are set by local councils. However, we are focused on ensuring councils have access to a range of funding and financing tools so that they can meet their regulatory requirements and make long-term investments in water infrastructure without putting undue pressure on their finances.