Catch up on the key updates from Property Council’s advocacy team, including:
Tauranga’s Long-Term Plan seeks to introduce higher rates for industrial properties
On November 15, consultation opened on Tauranga City Council’s Long-term Plan 2024-34. This will set Tauranga’s direction for the next 10 years and outline Council’s priorities including infrastructure, how much it costs, and where the money might come from.
One major area of concern is the proposed introduction of higher rating differentials for industrial property. A higher industrial property rating differential will have negative consequences such as; the cost of doing business in Tauranga and likely reduction of industrial pipeline projects.
To our knowledge, no other council in New Zealand has a higher rating differential for industrial properties. We are concerned, that if Tauranga City Council adopts a higher rating differential specifically for industrial properties, it could set a precedent for other local councils.
Property Council is currently reviewing the proposed Long-term Plan and will be shortly preparing our submission. We are interested in hearing from Tauranga based members. To get involved with this workstream, please contact Logan Rainey for further information.
Wellington’s draft Future Development Strategy consultation closes
Last week, Property Council submitted on Wellington’s draft Future Development Strategy which outlines how and where the Wairarapa-Wellington-Horowhenua region should grow and change over the next 30 years.
It is critical to have a robust vision for the future of Wellington, that addresses the region’s current challenges around housing supply and affordability while also giving the property sector the confidence to make long-term investment decisions.
While we supported aspects of the Future Development Strategy, we did have some concerns – namely the proposed restrictions and delays to new greenfield infrastructure, contradictory mapping, and the shortfall in current and future industrial land supply.
To read the full submission, click here.