A 30% rate rise bomb is ticking

Repair costs on Wellington Town Hall keep blowing out. (Image: NZME)

Sat, 16 Dec 2023

Thirty percent.It is conceivable that rates will increase that much over the coming two years.I’m putting it on the table to drive realism.Household rates were up almost 10% in the year to September while dwelling insurance costs rose 21%, a double whammy to homeowners and property investors alike, with those sorts of numbers having a material impact on cashflow. Hamilton ratepayers are already facing a 25.5% potential rise, Wellington city residents around 15% and 20%, following prior year double-digit increases, a reflection of a c...

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