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Auckland Land Tax to Decrease

February 17, 2009 New Zealand Taxation  No comments

The Land Tax paid by all Aucklanders who own land is decreasing this year to 2%.

The tax charged upon anyone in the Auckland region who owns land is set to only increase by two percent this year. The original estimate for the 2009 year was set at 5%. Deputy Mayor David Hay said that by easing this pressure for people, the council is easing pressure on people in this economic climate.

This news must be welcomed warmly by the likes of Reserve Bank Governor Alan Bollard, who has openly voiced his concern in regards to local competition providers like city council and the fees that they impose on people. In 2008 council rates were one of the upward pushing contributors to inflation. Auckland City council charged a 5.7% increase in rates, while inflation was measured at 3.4%.

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