Rates increase stuns Hawke’s Bay forest owner

Rates increase stuns Hawke’s Bay forest owner
More than 10% of Hawke’s Bay is in exotic forests. (Image: NZME)
Riley Kennedy
An East Coast forest owner says it has been whacked with a 570% increase in its annual rates bill.That could, it says, add an additional $5 million cost before a tree even comes off the property - possibly as long as another 25 to 30 years away.Lewis Tucker, through its DrylandCarbon fund, purchased what it described as a sheep and beef property that “wasn’t profitable” in the Wairoa district in 2019.Get up to date fast. Join BusinessDesk's WhatsApp channel.While most of it has been converted to forestry, 150ha of producti...

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