South Taranaki District Council has cut its average rate increase for 2022/23 to 2.84 per cent despite the inclusion of some big projects in its annual plan.
The council approved and adopted its 2022/23 annual plan on Monday, June 27.
It includes the construction of Te Ramanui o Ruapūtahanga, the district's new library, arts and culture centre in Hāwera, which is scheduled to begin next week, revitalisation projects and improvements to infrastructure.
The revitalisation of the town centres of Eltham, Waverley, Manaia, Pātea and Ōpunakē are included in the plan, as well as the implementation of the council's environment and sustainability strategy.
Updates and improvements to the district's roads, water and wastewater infrastructure will continue, including the completion of the Nukumaru Station Rd extension south of Waverley, and water plant upgrades in Ōpunakē among others.
South Taranaki Mayor Phil Nixon said he was pleased the council was able to reduce the district's projected rate increases.
The 2.84 average rate increase was below the originally projected increase of 4.68 per cent from the council's 2021-31 Long Term Plan and less than the current rate of inflation of 6.9 per cent.
However, the effect on individual properties would vary due to recent property revaluation, Nixon said.
"Since its last valuation three years ago, the district has had an average increase in property value of 20.4 per cent. This was largely driven by significant increases in the residential and commercial sectors - while dairy and pastoral properties saw a small decrease."
Nixon said if a resident's property value increased more than the district average, their rates increase would be higher than the 2.84 per cent average, but if their property value increase was less than the average, the rates increase would be lower or rates may even decrease.
The council was conscious of the need to keep any rate increases to an affordable level.
"We were particularly focused on minimising any impact the new property values may have on ratepayers without compromising future plans or our overall financial position," he said.
More information on the 2022/23 annual plan can be found on the South Taranaki District Council's website www.southtaranaki.com