On 19 April 2022, Property Council submitted on proposed changes to Greater Wellington Regional Council’s Revenue and Financing Policy.
Property Council supports Council policies that provide certainty and support to the property sector. Some of the proposed changes to Greater Wellington Regional Council’s Revenue and Financing Policy (“the policy”) fell short of this and we did not support:
- The removal of the public transport differential (this will be moved to the Funding Impact Statements in the proposed 2022/23 Annual Plan); and
- The introduction of the Wellington Regional Stadium (Sky Arena) targeted rate.
We recommended that Greater Wellington Regional Council:
- Reconsider moving the public transport differential out of the policy;
- Provide more information on what the Sky Stadium targeted rate will be used for before making any decision to implement it; and
- Work with Wellington City Council to provide information to the property sector explaining what the overall rates increases will mean for different sectors within Wellington.