However, the average rate rises for the first three years of the plan are forecast at 4.14 per cent, 3.79 per cent, and 3.92 per cent.
With some ratepayers faced with a $450 increase to their already "extremely high" rates bills over the next three years, many have said they will struggle to afford the increases.
In announcing that the draft plan had been adopted unanimously by the council, CHB Mayor Alex Walker acknowledged that renewing and maintaining infrastructure carried a cost, but said it was vital to invest in durable infrastructure.
"I stood for a vision of a positive future for Central Hawke's Bay. I think this plan makes some bold steps in the right direction," she said.
The council is also proposing a district-wide targeted rate to raise 5 per cent of the funds needed for the investment in the three waters, which would equate to a $49 charge in 2018/19 for all ratepayers, regardless of whether they were connected to the water network, rising to $57 by year three.
Another option is a targeted rate to raise 7.5 per cent of the necessary funds, which would equate to a $73 charge in 2018/19, rising to $85 by 2020/21.
For ratepayers with all three water connections, increased water charges alone are forecast to add $238 to their rates by year three of the plan.
The result of the extra water charges and other items in the plan will be rate rises for most ratepayers.
According to council figures, a ratepayer in Waipukurau with a home with a capital value of $260,000 can expect a rates bill rise from a current amount of $2691 to $3141 by 2020/21 – an increase of $450 over three years.
Consultation opened on Monday but ratepayers are already expressing concern on social media.
Alice Bellamy said her household would struggle to pay the higher rates, but she was also concerned for others already finding the cost of living so high.
"I really worry about the elderly who are on the pension as I know how tight money already is for a lot of them. It means they will have to go without something to afford it, which is a concern."
Lizz Davidson said CHB rates were already "extremely high" - and higher than those in Auckland.
"I know this is fact because I've lived there. It's not acceptable at all. Our old house in Auckland currently has a value of $940,000 [and] rates are $2900 a year.
"My house value is currently $225,000 and I'm already paying over $2600 a year in rates. This is a surefire way to drive our community to the wall and kill it off again."
• The Have Your Say meetings will be held on March 13 at CHB Municipal Theatre in Waipawa and at War Memorial Hall in Waipukurau on March 21. Both will run from 7pm-9pm.