On 28 March 2023, Property Council submitted to Auckland Council on their proposed amendment to the Revenue and Finance Policy. These changes are associated with the proposed pause to the Long-term Differential Strategy in the draft Annual Budget 2023-2024.
Why it matters to our members
Property Council believes in the creation and retention of a well-designed, functional, and sustainable built environment. The proposed amendment to the Revenue and Finance Policy could have a significant and detrimental impact, reducing equity in the rating system.
Our view
Property Council’s submission expressed our extreme concern at the proposed pause of the Long-term Differential Strategy. We are concerned that it is a slippery slope towards further delay and inaction at addressing current inequities that see Auckland commercial ratepayers charged at a degree disproportionate to the level of services provided.
At a high level, we recommend that Auckland Council:
- Does not adopt the proposed amendment to the Revenue and Finance Policy; and
- Continues to implement the Long-term Differential Strategy (“LTDS”) to reduce rating differentials as planned.