Auckland Mayor Phil Goff is seeking final approval for his "build-it" budget today.

His budget proposes an average rates increase of 2.5 per cent over the next two years and 3.5 per cent thereafter. New property valuations this year mean some households will pay more than 2.5 per cent from July, and others will pay less.

It also includes a regional fuel tax of 11.5 cents a litre, which will come into effect on Sunday. The Government passed legislation to introduce the tax on Tuesday.

The budget is also set to deliver the city's biggest investment to tackle traffic congestion and protect the environment.

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Extreme weather has led to a proposal to establish a $40 million climate change response fund and $90m to protect coastal assets.

Goff has responded to lobbying from the likes of Auckland Sport and Recreation to propose a $120m contestable fund for sports and recreation facilities, and lobbying from the arts fraternity to give the Auckland Art Gallery a further $2m a year after sustained funding cuts.

"I believe this is a budget that will help all of Auckland and be overwhelmingly welcomed across all of the city," Goff has said.

Phil Goff's 10-year budget plans:

• Rates increase of 2.5 per cent for the first two years and 3.5 per cent thereafter
• Regional petrol tax of 11.5c a litre
• New water quality targeted rate to raise $452m*
• New environmental targeted rate for protecting kauri and native flora and fauna to raise $311m*
• Climate change response fund of $40m* and $90m* for coastal protection work
• $100m for America's Cup
• $120m* contestable fund for sports and recreation facilities
• $20m* to help restore cutbacks at Auckland Art Gallery
• Expand Southern Initiative social programme to West Auckland and $475,000 to City Mission
• Resumption of reducing the difference between business rates and household rates
The disestablishment of Auckland Council Investments Ltd
*spending over 10 years