Each year Council’s rates income requirements change, this is mostly due to inflation (the cost of everything going up). The rates income increase for Ōtorohanga District this upcoming year (1 July 2023 – 30 June 2024) is 6.17%, this ensures that we can continue to provide the services we do for our communities.
Why is the 6.17% different than what was proposed in our Long Term Plan 2021 – 2031 (5.68%)
Inflation is higher than was predicted when the Long Term plan as created. There have also been changes in services and the cost of delivering these.
What does this mean for you as a rate payer?
How this affects everyone’s rates will be different, the amount you pay in rates will be reflective of where you live and what your property is worth.
Who decides what my property is worth?
An external independent entity called Quotable Value (QV). Your QV rate reflects the likely selling price of your property at the time of the revaluation date, which was 1 October 2022 for this round.
On average, the value of residential housing in our district has increased by 54% since 2019, with the average house value now sitting at $566 000. See the below video for further explanation.