Rates cap could worsen financial strain on councils - agency
The goverment wants to cap rate increases at between two and four percent a year, saying double digit increases year after year are unsustainable for households. It plans to bring in a new law by January 2027, with a two year transition to caps. S & P said councils don't look ready to comply, only 5 out of 78 managed to deliver a rate increase below four percent for the 2025, 2026 year. LGNZ Board member and Palmerston North Mayor Grant Smith spoke to Lisa Owen.
The skinny
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