Sign In / Register
Auckland Council’s draft Contributions Policy 2025 aims to recover $2.3 billion over the next decade, to contribute to the council’s infrastructure projects.
“Existing rate payers should not have to actually subsidise future growth investors,” said Mayor Wayne Brown.
A breakdown of funding sources over the next 10 years estimated that for transport investment $3.5 billion would come from rates, $3 billion would come from the government and $900 million would come from Development Contributions.
Brown said developers wanted to ensure they were not paying more than they had to but that the council needed to protect ratepayers.
“When push comes to shove there’s only three people that can pay: developers, ratepayers or taxpayers. These costs are required for the development to happen,” said Financial Strategy general manager Michael Burns.
The council cannot retroactively charge development contributions so it was important to get it right.
Financial Policy manager Andrew Duncan said, “If we don’t plan for these Investments now and include them in the policy then by that time we might have foregone somewhere between $400 and 600 million of revenue,”
Public consultation on the draft policy will be open until November 15.
