3 Oct 2008

Far North council to overhaul rating system

11:28 am on 3 October 2008

The Far North District Council is embarking on an overhaul of its rating system, with a proposal to change to capital value rating.

It says the present system, where rates are based on land values, has caused huge swings, as new valuations take effect.

Recent revaluations have triggered big rate increases for many properties in the west and north of the district, traditionally the poorer parts of the Far North.

The council says a capital-value rating system, based on the value of buildings, would make property owners less vunerable to sudden rises in land values.