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Christchurch city councillors have signed off on a 5.34 percent rates rise for the new financial year that starts tomorrow.
That increase, confirmed by the council today, includes a 1.76 percent rate increase over five years to repay the estimated $73 million deficit incurred by the string of earthquakes that struck the city.
The adopted plan includes a $100,000 grant for the Gap Filler project to fund at least eight Gap Filler or Greening the Rubble initiatives in earthquake-affected areas of the city in the coming year
Christchurch Mayor Bob Parker said the city has been through a lot in past months.
"I would like to thank the people of New Zealand who are contributing to our rebuild and I acknowledge that we also must pay our way. I can honestly say that this council has worked hard to minimise the rates increase, while ensuring we can move our city forward.''
The council revealed "significant revenue loss'' because of the earthquakes, putting this year's figure at $27.2m.
Parker said it was unusual for the council to face a deficit, espeially after it had recorded surpluses of $23.7m over the last four years.
"But we are in extraordinary times and this is the most prudent way for the city to cover the costs of the earthquake.
Although the feedback process was shorter than usual, it still produced "a number of worthwhile additions and changes to the draft plan that will benefit our city going forward.''
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