Council's 2014/15 Annual Plan Adopted

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Stratford District Council met on Tuesday 10 June to adopt the 2014/15 Annual Plan. The Plan sees Stratford rate payers looking at an overall increase of 3.1%.

Due to growth within the district, the rate increase is lower than indicated in the Long Term Plan which signalled an increase of 4.63%.

The increases have different impacts on urban and rural ratepayers with an average increase of 2.34% for urban properties, and an average increase of about 0.25% for rural property owners.

The reduction in rate increase is a result of savings in loan costs on capital expenditure and the impact on ondividual ratepayers of growth of $53 million in capital value.

Chief Executive Sue Davidson says, "As a district we have seen significant growth over the past year in areas of housing and the oil and gas industry. This means there are more properties to spread the total rating take over, and for existing rate payers the overall impact is an average increase of 2.6%."

"Council believes these savings will be welcomed by rate payers," says Mayor Neil Volzke. "The growth in the district does not impact on the total rates collected of $10.2 million but reduces the impact on individual properties, which for me is the highlight of this year's plan."

Projects for the up coming year include a replacement water treatment plant at Toko, seal extension of forestry roads, effluent upgrade, and plans will be developed for extending the library as part of the Broadway & Prospero Place development.

Urban ratepayers with a property valued at $216,000 will increase see a 2.42% increase and extra $50.40 annually. Urban properties valued at $276,000 increase 2.26% an annual increase of $50.23.

Rural rates have a minimal increase. Rates on a rural property with a capital value of $4.5 million will increase by just $2.44 annually a 0.02% increase, with rural lifestyle blocks valued at $975,000 increasing 0.43% an annual increase of just $12.28.

Commercial property owners with a property valued at $170,400 see a 0.94% rise equating to a $15.53 increase.

Full copies of Council's Annual Plan are available from Council's website, www.stratford.govt.nz, Service Centre and the library.

Please note the above annual rate increases do not include Taranaki Regional Council rates.