After listening to community feedback, the council reviewed all its operational budgets to identify further cost savings across all areas and as a result has been able to cut back the 2022-23 average rates increase to 7.07 per cent. This is an average figure only and the increase will vary from property to property depending on value and services received.
"This has been a year like no other – and we've tried our absolute best to balance the average rates increase, while continuing to invest in core infrastructure and deliver a wide range of services to meet the community's needs," Trewavas said.
Projects that remain in the annual plan include $4.4 million to finish the government-funded Taupō Town Centre Transformation Project to a higher standard than the government funding allows. This major capital project, which began in 2020, is expected to finish in December.
"The Taupō Town Centre Transformation project is a once-in-a-lifetime opportunity to transform our CBD into a world-class area that will attract people to spend time and money in," Trewavas said.
The council also plans to continue with vital water infrastructure upgrades around the district.
"We have several projects under way to supply water for our communities that meets Drinking Water Standards New Zealand.
"Irrespective of what happens to our water infrastructure in the future, we are committed to providing safe drinking water. If the Three Waters reforms proceed, our water-related debt, as well as our water assets, would be transferred to the new water entity."
The draft annual plan proposed bringing forward $300,000 for consultants' investigations into a second bridge across the Waikato River. This will now remain in 2025-26 as scheduled.
Trewavas said despite the challenging economic conditions, the council has also recently had its AA+ stable outlook credit rating renewed by Standard & Poor's for its strong financial management. He said the council looked forward to working with its communities to bring the 2022-23 annual plan to life.
"Together, we can ensure the Taupō district remains the vibrant and attractive heart of the North Island as New Zealand reopens to the world."
The annual plan was adopted two weeks late after the council's finance team, which prepares the financial information in the plan, was hit hard by illness.
The annual plan 2022-23 is available to view at taupo.govt.nz/annualplan. You can view the rates for your property for 2022-23 at taupo.govt.nz/rates
