How are most Council rates calculated:

Source: Wellington City Council:

Rates are based on your property’s capital value, land use and whether it receives targeted rates or is non-rateable. This year’s rates are based on the property revaluation as at 1 September 2021.

1 Septemerb 2021? Isn’t that when home values were at their peak?

A properties capital value…. means, if you build that shinny replacement home, we’re going to calculate rates on the whole value of the property on the date advised.

The elephant in this room:

Land value – check. Number of assets – check (e.g. bedrooms, bathroom, garage.)
Capital value – big red question mark.
Based on two year old capical valuations – big red question mark.

I draw on the recent announcement from almost every concil office… all are increasing rates. All are shouting about infrastructure needs. Don’t rob from the next generations. All are eyeballing increased capital values.

Are any of them tooth-combing through their internal overheads?
Are any of them yet to appreciate… we don’t need shinlly CBD’s, just fix the pot holes and water leaks. Stop all unnecessary upgrades. Are any of them reviewing their salaries in a fair and transparent manner?