Hamilton City New Rating System Approved
The Council believes a capital value rating system is the fairest and simplest way to calculate rates. Under CV rates are applied to the full value of each property so rates generally align better with people’s incomes and ability to pay.
The change will bring Hamilton into line with other major cities in New Zealand that use a capital value rating system.
To help make the transition to the new system as smooth as possible, and to reduce the impact to ratepayers whose rates will increase, the new system will be rolled out over ten years.
All ratepayers will receive Information about the change to capital value and how the new system will affect them with their rates notices from July 2015. Ratepayers significantly affected by the change will be contacted directly by the Council.
At the Council meeting of 29 September 2014 it was presented that: