Mayor Stuart Crosby said the CBD had a large number of older buildings that required upgrades or earthquake strengthening. Photo / File
Mayor Stuart Crosby said the CBD had a large number of older buildings that required upgrades or earthquake strengthening. Photo / File
A new and easier process has been created for owners of CBD buildings to apply for a rates remission while earthquake strengthening repairs are carried out.
Building owners have always been able to apply for this kind of remission, but until now they had to pay for a valuation toshow the diminished value of their property when work was being undertaken. The council voted on Wednesday to streamline this process and give property owners an incentive to get their central city buildings earthquake strengthened faster.
Mayor Stuart Crosby said the CBD had a large number of older buildings that required upgrades or earthquake strengthening.
"From time to time, our rates department has been asked if there is any way for a rates remission while development is happening. We can do that anyway by a valuation process, but what we're seeing is there must be an easier way for the same result."
In the next year, $50,000 has been allocated to trial the new process.
"Building owners can come to us and say while it's being pulled to bits, it's worth less anyway, so I would like a rates remission for that period of time.
"It won't be large amounts of money per building but it's a signal to say we understand and are happy to find an easier way."
After this year, the council will review the uptake of the remission and consider whether to extend it to other areas of the city.
