Capital value rating gets committee nod

Capital value rating is a step closer for Thames-Coromandel following sign off of the draft Revenue and Financing Policy by the Thames-Coromandel District Council Hearings Committee at a meeting in Thames on Thursday.

The proposal to change from the current land value rating system to capital value rating will now flow through into the council’s draft 10-Year Plan (LTCCP) for further public consultation next year.
If implemented, it will apply to rates levied from the 2009-2010 financial year.

At the same time the committee resolved to maintain the 0.6 differential for approved farming and horticulture properties; credit investment interest to the Uniform Annual General Charge (UAGC) rather than the General Rate; and to change the funding of storm water activity to a more district wide approach.

TCDC Mayor Philippa Barriball says the council received 129 submissions from the public on the proposal and nearly 30 asked to be heard.

“There were some very compelling submissions, resulting in at least one change to the recommendations put forward by staff. Councillors agreed the 0.6 differential for farmers should be retained after hearing from both individual farmers and Federated Farmers representatives.”

She urged ratepayers and residents to become fully engaged in the 10-Year Plan consultation process next year to ensure their views are heard and that the outcomes are robust.

“The decisions to be made over the next few months will drive what council will provide in the way of services for the next 10 years and how they will be funded. As both the funder and recipient of those services, you need to get involved.”