Rates Increase
A Ratepayers Perspective on Rates Rises
All the rhetoric, statements and documents portray that the proposed 15.5% (or 2x 9.5%) rates rise in the budget of the 10 Year Plan is needed to stem the bleeding of borrowing $10 million per year to fund the shortfall in the day to day running of the city. However that has not been communicated well, most people and all of the candidates' bar one in the recent by-election believed that the proposed rates rise is to fund growth, particularly Peacockes.
Current Rate take $153.747 million + 9.5% rate Rise = $168.353 million ($14.6 million rise)
New Rate take $168.353 million + 9.5% rate rise = $184.346 million (another $15.994 million) without the property valuation, effectively the figure will be more (a lot more).
At a bare minimum, the 2 x 9.5% rates rise council will gain a nett increase of $30.599 million over 2 years. That exceeds any of the figures over the numbers of years that the borrowing occurred.
The 10 Year Plan must have been written by extra-terrestrials for the dyslectic it is confusing particularly because it is contradictory rather than complimentary.
The issue is the projected $30.599 million gain in revenue vs the $4 million pa shortfall in the day to day running of the city, particularly in view that Hamilton’s economy only grew by 2.8% for the year considerably below the any of the proposed rates increases.
The attached tables clearly indicate that it appears illogical to increase rates by 107.98% when the revenue base only increases by 27.45%.
Ratepayer Growth (Increase) over 10 Year Plan 16, 056 $27.45%
Rates Increase over 10 Year Plan $165.283 million 107.98%
A Ratepayers Perspective on Rates Rises (Table).docx Download View
A Neighbourly Riddle! Don’t Overthink It… Or Do?😜
Do you think you know the answer? Simply 'Like' this post if you know the answer and the big reveal will be posted in the comments at 2pm on the day!
If you multiply this number by any other number, the answer will always be the same. What number is this?
Poll: Should the government levy industries that contribute to financial hardship?
As reported in the Post, there’s a $30 million funding gap in financial mentoring. This has led to services closing and mentors stepping in unpaid just to keep helping people in need 🪙💰🪙
One proposed solution? Small levies on industries that profit from financial hardship — like banks, casinos, and similar companies.
So we want to hear what you think:
Should the government ask these industries to contribute?
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59.1% Yes, supporting people is important!
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25.4% No, individuals should take responsibility
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15.5% ... It is complicated
Derelict Tokanui Hospital site in line for a clean-up
Derelict Tokanui Hospital buildings will be demolished and contaminated land cleaned up so the site can be offered back to iwi.
The former psychiatric hospital, southeast of Te Awamutu, sits on land taken from Ngāti Maniapoto under the Public Works Act in 1910.
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