Rates rise might be as low as $1 a week

New Plymouth residents could be looking at a minimal rate increase of less than $1 a week.

The council will gather for its first public meeting on Monday to discuss the district's preliminary draft annual plan 2014/15. Rates would be among the issues discussed.

Mayor Andrew Judd said the council is proposing an overall 2.8 per cent rate increase.

"This would be the lowest increase for a number of years and is down considerably on the 6.6 per cent forecast for 2014/15 in the 2012-2022 long term plan."

Mr Judd also said proposals were still in the early days and there was a "fair way" to go in finalising the plan.

A 2.8 per cent increase would make the 2014/15 average residential rate around $170 a month.

The preliminary draft plan also budgets a $9.1 million release from the perpetual investment fund, along with $2.8m of short-term borrowing to "soften the impact" of the significant reduction in the investment fund release.

Mr Judd said councillors and staff members worked hard to pull together the preliminary report.

"And we're now starting the public process," he said.

Public consultation runs from March 19 to April 17, with submission hearings set down for June 4 to 6.

A final adoption of the annual plan is planned for June 24.

Taranaki Daily News