South Taranaki District Council is proposing a lower rate increase in its 2019/20 Annual Plan than was initially projected in its 2018-28 Long Term Plan.
The Council, which approved its Annual Plan at a meeting on April 1, is proposing to reduce the total rate increase from 3.47 per cent to 2.98 per cent.
The effect on individual properties will vary due to the district wide property revaluation in 2018, where commercial and residential properties had a significant increase in value compared to rural properties.
South Taranaki Mayor Ross Dunlop says he is pleased that Council has been able to reduce the projected rate increase.
"Our Council is always conscious of the need to keep any rate increases to a minimum, so we are pleased that by keeping a tight control on expenditure, and savings made through lower borrowing costs, we have been able to reduce the 2019/20 rate increase from what was projected in year two of our Long Term Plan."