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Proposed rate rises of up to 7 per cent a year have received the nod from Tasman District councillors to go out for public consultation next year along with a $60 million increase in the council s net debt cap.
Tasman District residents are facing potential annual rate hikes of between 4.5 and 7 per cent over the next 10 years and the mayor says he’s surprised the proposed increases are not higher. The tipped rate and debt cap hikes are due to go out for public submissions next year as part of consultation for the council’s Long Term Plan 2021-31. “I m actually, I guess, in some ways surprised that we ve managed to get to a point where our rate increases are not greater considering our responsibility as a unity authority and the huge challenges that have happened post election,” King said.
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Mayor Tim King, left, and council chief executive Janine Dowding say in the Annual Report that 2019-20 has been a year of change and challenges. The 2019-20 result was also helped by some external factors that moved in the council’s favour including increased revenue from forestry, lower borrowing costs, low inflation and higher-than-anticipated population growth. Net debt of $156.2m is below the council’s self-imposed cap of $200m and almost $35m lower than $191m that had been forecast. Rates revenue for the year was $76m, comprised of $40.3m from general rates and $35.7m from targeted rates. Revenue from all other sources such as forestry harvesting; fees and charges; development and financial contributions as well as capital subsidies and grants totalled $84.5m.