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Queenstown CBD Transport Rate for Queenstown Town Centre Properties
Information about the Queenstown CBD Transport Rate for Queenstown Town Centre Properties consulted on in the Long Term Plan 2024-2034.
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About
In 2018 and 2021, we asked for your feedback on proposals to fund the implementation of the Queenstown Town Centre Masterplan. This is a programme of work which includes the arterial road, street upgrades, carparking, a public transport hub, improved active travel options and other smaller associated projects.
The preferred option was to introduce a targeted CBD rate to ensure that those who would benefit most from this significant investment, contributed in a fair and equitable way. Since the previous Long Term Plan, we have completed stage 1 of the street upgrade programme at a cost of $69M and progressed stage 1 of the Town Centre Arterial Road (partially funded by Crown Infrastructure Partners).
Council has now finalised an appropriate rating model to fund the increased level of service for the street upgrades for the 2024-2025 year.
All properties within the area of benefit (detailed in map link below) are subject to the new targeted town centre transport rate. The proportion of costs are determined by the relative benefit of the works to the area versus the benefit received by the rest of the ward. It has been assessed that around 65% of the benefit is accrued to the wider town centre area, with the remaining 35% to be recovered from wider Arrowtown-Kawarau and Queenstown-Whakatipu wards’ ratepayers.
While this might not be welcomed by everyone in the current climate, Council considers that this is the fairest approach. For example, someone operating a hotel or business within the town centre benefits most from the improved experience and underground servicing, compared to a resident living in Frankton who may only visit town occasionally.
To ensure that future generations continue to pay for the benefit of the investment, a 30-year repayment period has been modelled, amounting to $1.29M per annum (including 5% interest).
Impact on rates
The increases for properties within the wider town centre area are low to moderate depending on the capital value and use. Residential properties show increases of between 1.6% to 4.1%, commercial from 1.7% to 3.0%, and accommodation from 0.9% to 2.2%. The impact is reduced for properties outside of the wider town centre area.
The following table illustrates the rates impact on different types of property (median values). The analysis is based on the impact of the increased costs on rates for the current 2023-2024 year.
|
Property Type |
CV |
Location |
% |
$ |
|---|---|---|---|---|
|
Residential |
$1,390,000 |
Wider CBD |
2.28% |
$89 |
|
Residential |
$1,390,000 |
Ward |
0.43% |
$17 |
|
Commercial |
$2,999,000 |
Wider CBD |
2.97% |
$245 |
|
Commercial |
$2,999,000 |
Ward |
1.64% |
$136 |
|
Accommodation |
$2,860,000 |
Wider CBD |
2.22% |
$286 |
|
Accommodation |
$2,860,000 |
Ward |
1.07% |
$137 |
|
M/U Accommodation |
1,720,000 |
Wider CBD |
2.41% |
$125 |
|
M/U Accommodation |
$1,720,000 |
Ward |
0.69% |
$36 |
|
Primary Industry |
$5,750,000 |
Ward |
1.19% |
$56 |
|
Country Dwelling |
$3,281,000 |
Ward |
1.01% |
$39 |
|
Vacant |
$1,086,000 |
Wider CBD |
2.51% |
$76 |
|
Vacant |
$1,086,000 |
Ward |
0.65% |
$20 |
|
M/U Commercial |
$1,565,000 |
Wider CBD |
2.34% |
$107 |
|
M/U Commercial |
$1,565,000 |
Ward |
0.56% |
$26 |
Which properties does the targeted CBD rate apply to?
The map below allows you to zoom in to see precisely which properties are included.