Queenstown adds $30m to ratepayer bill to pay debt

Owning a home in Queenstown is getting even more pricey. (Image: BusinessDesk)

Thu, 06 Jul 2023

Queenstown Lakes ratepayers are facing the biggest rates hike in at least 15 years as the district tries to claw back an estimated $200 million in leaky building settlements and contend with ballooning debt-servicing costs.The rates hike, which averages out to 14.2%, was signed off by district councillors late last week and comes in addition to hikes to user fees and slashed capital spending, with $106.7m worth of water and transport projects sidelined for several years. The rates rise, the third highest by any territorial authority after...

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