10-03-2022, 08:17 PM
(10-03-2022, 08:02 PM)Magoo Wrote:(10-03-2022, 07:27 PM)Oh_hunnihunni Wrote: Slight exaggeration there.....
fixed income superannuants trying to pay rates on a property that has just had its rates go up 30% after council revaluation? the skyrocketing valuation a direct result of a housing shortage that hasnt got better but actually worsened under this government, and no sign of that changing ever? no plans, no projections, no policy. praying for the reserve bank or the banking institutions or a GFC to happen
...
You're misunderstanding the way in which property rates are calculated. Each local body first decides the total amount it needs to maintain its services, then that total amount is divided among every rateable property pro rata according to the rating valuation. The only occasions on which someone's rates would increase by 30% (using your example) would be when either the total rates amount has increased by 30%, or in the unlikely situation when a property's rateable value has risen hugely compared with other properties in the same area.