Rising insurance costs push council to consider rate hike

It is set to discuss options in April

Rising insurance costs push council to consider rate hike

Insurance News

By Krizzel Canlas

Greater Wellington Regional Council has announced it will reconsider its rate proposals for 2019-2020 given their potential impact on some communities in the region.

Before finally setting rates, the council has decided to consider substantial rises in capital values for property – such as a 44% increase in Wellington City – as well as big escalations in insurance costs, which it expects to have the impact of imposing greater rate increases in some areas than others.

The council said it will discuss options at its next meeting in early April. However, it confirmed that public transport fares would be held at current levels for at least the next year. The plan reflects new bus services, zero bus and train fare increases, and the funding of all the major programmes contained in the long-term plan.

“It’s been our consistent position that we must minimise the impact of rates on regional ratepayers,” Council Chair Cr Chris Laidlaw added.

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