Transportation will get the biggest share of the funding, with $310m, followed by integrated catchments management at $230m, and resource regulation and monitoring, at $191m.
The council has also planned $176m of capital expenditure, including $75m for flood protection and control.
In the document, the council said in the past it used reserves and its investment fund to help pay for its work.
"We have now spent or committed most of our investment fund, as we had planned to, and we will use $157m of borrowing to fund our capital works programme which will increase our costs significantly over the next 10 years."
The council was putting a stronger focus on the money it collected from fees and charges, and from targeted rates, where "it is easy to identify who is benefiting from the services we provide".
"This also makes it clearer to everyone where their money is being spent."
If the LTP is approved and a 12 per cent rates rise comes into effect, the Bay of Plenty Regional Council portion of rates for an average median property (1000m2 land area) in Rotorua would be $422, an increase of $73 compared with the 2017/18 year.
A proposal to extend passenger transport services in Rotorua, which is awaiting a council decision, could add an extra $2.50 per year to the passenger Transport Targeted Rate for Rotorua.
Improving and protecting water quality in the region's waterways is expected to cost $46m in the 2018/19 year.
Challenges for the region caused by climate change are also touched on in the document.
They include rising sea levels, increased impacts from coastal storms, an increase in intensity in rain events, and changing temperatures leading to changing ecosystems.
The council had work in the pipeline to combat these, including incorporating projected future rainfall in water management modelling and raising awareness in coast low-lying areas.
A community forum will be held on Thursday, March 1 at Te Aka Mauri for people to hear more about the consultation document. The forum will run between 4pm and 6pm.
BOPRC rates for an average median Rotorua property 2017/18
General rates - $138
Urban River Scheme- $28
Rotorua Lakes- $112
Air Action Plan- $36
Passenger transport- $35
Total - $349
BOPRC rates for an average median Rotorua property 2018/19
General rates - $170
Urban River Scheme- $30
Rotorua Lakes- $112
Air Action Plan- $28
Passenger transport- $61
Civil Defence - $21
Total - $422