"Our provincial centres cannot match the massive square metre rents found in Lambton Quay, yet the seismic costs are exactly the same.
"We believe there needs to be a lot more work to model the effect of an earthquake on the types of streetscape found in provincial centres. Even then, there needs to be a social and economic decision to balance a pure safety approach with a degree of pragmatism.
A focus on parapets, verandas and removing at-risk items could greatly boost safety at the least social and financial cost, he said.
"It is hard to disagree with the Property Council of New Zealand, which believes the bill could work, but only if earthquake strengthening is made tax deductible, qualifying for depreciation.
"Federated Farmers does congratulate the Government for what it has done with farm structures and believes we can strike the right balance for our rural towns," Mr Crofoot said.