Rates are yearly charges based on property values, made up of different components accounting for various services. They add up to just over a third of the Taranaki Regional Council's income.
Most of the Council’s income comes from user charges, Government grants, dividends and rent and investment income.
The Council’s rates are collected on its behalf by the region’s three District Councils, which include them in their quarterly rates notices to ratepayers.
Rates vary according to which Taranaki Regional Council constituency your property is in. The Council’s constituencies mostly align with District Council boundaries – the New Plymouth and North Taranaki constituencies are within New Plymouth District, the South Taranaki constituency boundaries match those of South Taranaki district, and Stratford constituency covers Stratford district west of Pohokura Saddle.
What are the different rating components?
All ratepayers pay the General Rate (variable from constituency to contituency), as well as targeted rates (variable from constituency to constituency) for transport services and Yarrow Stadium (within North Taranaki and New Plymouth constituencies, the Yarrow Stadium rate also varies according to the type of ratepayer).
Ratepayers in New Plymouth, North Taranaki and South Tarnaaki constituencies also pay a separate targeted rate to fund flood protection schemes and river works.
Full rating details and formulas, and information on how to calculate rates for individual properties, are in the Funding Impact Statement in the Council’s 2019/2020 Annual Plan.