News from WCC
The Wellington City Council has agreed in principle to update its Rating Policy, and Rates Remission and Postponement Policy, as part of the development of the 2024-34 Long-term Plan. Updates would incentivise development by increasing the proportion of rates paid on inner-city vacant land and providing rates relief to support the strengthening of earthquake-prone buildings.
The Council’s rating policies define how the city’s overall rates bill is divided up, to determine the proportion each property owner pays. The proportion paid depends on a range of factors, like the property’s capital value, whether it is commercial or residential, and what services the property receives.
The updated policies will underpin the draft Long-term Plan currently in development, which will go for community consultation in April 2024. The changes are in-principle and subject to that process.
Key changes include:
Increasing the proportion of rates paid on vacant land in the central city, with officers to investigate expanding this geographically in the coming years. Owners of vacant land in the central city would pay $5 in general rates for every $1 that a residential property of the same value pays. Currently there is no separate category for vacant land in the central city. Following consultation feedback, the initial proposal for a 4.5:1 differential has beenamended to 5:1.
Rates relief for earthquake-prone residential buildings with body corporates, and…