Financial information

What will my new rates be?

The draft Annual Plan 2014/15 is proposing an average rates increase of 3.7%, after allowing for 1% growth in the rating base.

This figure and other charges may change following the community consultation and any amendments made to the draft Annual Plan 2014/15.

Look up your proposed rates for 2014/15

General rate

The general rate is 0.62926 cents in the land value dollar (including GST) for the 2014/15 rating year. This compares to the previous year’s rate of 0.61023 cents in the land value dollar.

Uniform Annual General Charge (UAGC)

The UAGC is $387.10 including GST per separately occupied portion of a property for the 2014/15 rating year. This charge is $15.00 higher than the previous year’s charge.

Targeted rate for stormwater and flood protection (separate general charge)

The stormwater and flood protection rate is $242.70 for 2014/15. It is payable by all ratepayers other than the rural rating categories, small holdings categories and residential properties east of Gentle Annie saddle, and Saxton Island. This year’s charge is $23.30 higher than the previous year’s.

Wastewater charge

The wastewater charge is $390.00 per unit including GST compared to the previous year’s rate of $374.90. Commercial properties are also levied wastewater charges based on Council’s Trade Waste Bylaw.

Water charges

The water charges for 2014/15 including GST are a minimum annual charge of $201.69 compared with $191.42 for the previous year. The cost per cubic metre for 2014/15 will be $2.082 per cubic metre compared to $1.968 the previous year. The water charges represent an average increase of 4.6% for the 2014/15 year. NOTE: An average ratepayer uses 160m3 per annum.

Examples of proposed rates for 2014/15 (GST inclusive)

Examples of Rate Increases Land Value Rates 2013/14 Rates 2014/15 $ Increase % Increase
Residential
(Including $540 average water charges $517 in 2014)
85,000
185,000
335,000
$2,002
$2,612
$3,528
$2,095
$2,724
$3,668
$93
$112
$140
4.6%
4.3%
4.0%
Rural (No stormwater, sewerage or water charges) 790,000 $3,506 $3,618 $113 3.2%
Small Holding
(No Wastewater or water charge included)
280,000
385,000
$2,129
$2,706
$2,216
$2,810
$86
$104
4.0%
3.9%
Multi Residential (Two flats - Two UAGC & Wastewater Charges as per Council policy) 220,000
800,000
$4,224
$8,117
$4,400
$8,414
$176
$297
4.2%
3.7%
Commercial - Inner City (No water charges included) - 1 Unit 320,000 $7,215 $7,665 $450 6.2%
Commercial - Inner City (No water charges included) - 2 Units 330,000 $8,157 $8,357 $200 2.4%
Commercial - Outside Inner City (No water charges included) - 1 Unit 365,000 $6,312 $6,624 $312 4.9%
Commercial - Outside Inner City (No water charges included) - 2 Units 335,000 $6,620 $6,648 $28 0.4%

The money

For the full set of financial statements, please refer to the full Draft Annual Plan 2014/15 Statement of Proposal.

Income and Expenditure Annual Plan 2013/14
($000)
Long Term Plan 2014/15
($000)
Draft Annual Plan 2014/15
($000)
Difference to LTP 2014/15
($000)
 Revenue        
 Rates other than targeted rates for water supply  48,874  54,601  50,563  (4,038)
 Rates remissions  (266)  (210)  (280)  (70)
 Transfers from other government entities  6,593  6,744  6,630  (114)
 Other operating grants, donations and subsidies  214  223  821  598
 Other capital grants, donations and subsidies  7,442  66  7,314  7,248
 Vested assets  3,000  8,134  3,000  (5,134)
 Development contributions  1,987  2,034  1,414  (620)
 Revenue from exchange transactions  25,530  26,109  27,592  1,483
 Other Revenue  7,970  11,082  3,701  (7,381)
 Interest received  28  115  52  (63)
 Dividend received  2,673  2,737  2,776  38
 Total Revenue  104,045  111,635  103,583  (8,052)
 Expenses        
 Staff expenditure  18,151  18,535  16,926  (1,609)
 Grants and other transfer payments  3,324  2,384  3,209  825
 Finance costs  4,068  6,378  5,244  (1,134)
 Depreciation and amortisation  21, 028  22,607  21,435  (1,172)
 Other expenses  48,873  46,218  44,760  (1,458)
 Total expenses  95,710  96,122  91,574  (4,548)
 Net Surplus/(Deficit) before Taxation  8,335  15,513  12,009  (3,504)
Debt estimates Annual Plan 2013/14
($000)
Long Term Plan 2014/15
($000)
Annual Plan 2014/15
($000)
Net Debt  102,437  127,408  110,962
   %  %  %
Net interest expense on external debt as a % of total revenue to be less than 15% 4.1 6.2 5.2
Net interest expense on external debt as a % of total rates income to be less than 20% 6.7 9.4 8.3
Net external debt not to exceed 150% of total revenue 103.4 125.6 111.9
Net external debt not to exceed 20% of equity 8.4 9.6 9.1