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Article: Auckland City aims to borrow and keep rates rise to 3.6pc.(FRONT PAGE)
- Article from:
- New Zealand Herald (Auckland, New Zealand)
- Article date:
- March 7, 2007
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Byline: Bernard Orsman Auckland City reporter
Stretched Auckland City households are being offered some rates relief after a council decision to borrow $1.35 billion to fund capital works.
Instead of the projected 9.8 per cent rates increase this year, household rates will go up 5.4 per cent under a plan to begin a 10-year borrowing programme with a loan of $23.3 million. The average household rates bill will go up from $1420 to nearly $1500.
Auckland City is not the only council responding to last year's anger over big rates increases by holding its overall rates take from households and business to 3.6 per cent.
Other councils in the ...