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Waitomo District Council is being warned its rate take will plummet if the conversion of pastoral farms for the purpose of carbon farming continues at its current rate. File photo: Figures provided by Federated Farmers show a big loss in rates when the land is converted for carbon farming Photo: 123rf When farms were planted in pine trees, the capital value plummeted as did the rates able to be taken from the property, Waitomo businessman Kyle Barnes told councillors in a submission to its 10 year plan hearings. Barnes told the council New Zealand Carbon Farming (NZCF) was buying or leasing farmland for carbon sinks - a reservoir that absorbs carbon.

Waitomo districtNew zealand generalNew zealandPeter caseyKyle barnesWaitomo district councilFederated farmersNew zealand carbon farmingRating valuationLocal democracyKing countryRadio new zealandUblic radioUrrent affairsபுதியது ஜீலாந்து ஜநரல்புதியது ஜீலாந்து