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$1.6M ‘lost’ in rates

The Christchurch City Council loses about $1.6 million on paper each year from rates which are not charged on property, or rates which are remitted, according to figures given to the council’s policy and finance committee. Members of the committee said yesterday that guidelines should be. drawn up for future applications, for rates exemptions and remissions. The committee’s chairman, Cr Vicki Buck, said that the same criteria should be applied to all applications in different categories. “The Government gets away with almost a million

dollars that it does not make any contribution towards,” she said. Rates totalling $982,468 are either not charged or are remitted on Crown lands in the council’s area. Rates totalling $480,957 are not collected on other non-rateable properties in the city, excluding churches. . Another $108,204 is-lost on properties which attract *a mandatory 50 per cent remission in rates and another $47,598 in rates is remitted under the council’s discretionary powers. < Interest earned The council has earned

$2,170,370 in investment interest so far this financial year, compared with an income of $1.39 million expected in the council’s estimates. The interest income will help to give the council an unusually high surplus by March 31. Loan programme . The-council may try to ' raise a $2 million public loan between May and June for metropolitan-refuse work, electricity-extension work, land purchases, and roading. A further public loan of $925,000 may be raised in November.

Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/CHP19820309.2.44

Bibliographic details

Press, 9 March 1982, Page 6

Word Count
237

$1.6M ‘lost’ in rates Press, 9 March 1982, Page 6

$1.6M ‘lost’ in rates Press, 9 March 1982, Page 6

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