Kaikoura sets interest rates at 4.6%, ‘one of the lowest in the country’

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Kaikoura District Council adopted its annual plan with 4.63

Kaikoura District Council adopted its annual plan with “one of the lowest rates of hikes in the country”.

Council members approved the annual 2022/23 plan on June 29, with an average increase of 4.63%.

Mayor Craig Mackley said the relatively low rate hike was thanks to hard-working council staff.

“Given that we’re not cutting back on anything of what we proposed in the Long Term Plan (LTP) and the times we are in, the guys are doing a great job.

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“The highlight for me is definitely getting very close to what we expected and still being able to do what we said we were going to do.”

The average price increase of 4.63% is above the 4.04% indicated in the LTP, due to inflation and global supply shortages.

John Bissett/Staff

A road connecting downtown and Kaikōura Peninusla, shown here, is expected to be completed next year.

CEO Will Dottie said this is the first time the board has developed an annual plan without consulting the community.

“This is because we are simply delivering in the second year of our 2021/31 LTP program.

“We have consulted extensively with our communities to develop the LTP, and there are no significant differences between this annual plan and the outlook for the second year of the LTP, other than the timing of some capital projects.

“We have one of the lowest price increases in the country and hopefully that will be well received.”

Dottie said the council completed a population survey earlier this year, which helped “inform our decisions on the annual plan.”

“The survey confirmed that we spend in those areas that our community has identified as needing improvement, most notably roads and footpaths.

“The survey did not raise any unexpected issues.”

Dottie said that rebuilding from the 2016 earthquake has put the board in a strong position.

The government’s catalytic funding for Three Waters has eased the burden on wage payers in improving drinking water supplies and wastewater treatment systems.

Dottie said other capital projects in roads and three waters are being financed by loans and reserves to reduce the impact on interest rates.

Three major projects, replacing the Glen Alton Bridge over the Waiau-Toa Clarence River, and developing the Wakatu Quay and Link Pathway, between the city center and the Kaikoura Peninsula, have also been put on hold due to Covid-19.

The Wakato Pier and Link Pathway development is expected to be completed next year, while the Glen Alton Bridge is now scheduled for completion in 2025.

■ Public interest journalism is funded by New Zealand on Air

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