This is one of the tables in a briefing paper sent to Community Board members this week.
It acknowledges that inflation is just 1.5%, so we’re going to be hit three times that. At least it isn’t as bad as the 6% increase that Waikanae people got last year, but still far from acceptable.
The funding extra depreciation on revaluations upwards of existing assets simply means “we think we are going to need to spend more to replace these items.”
Financial sleight of hand? It depends on what the asset is. Are they saying, “we’re going to need stronger roads, bigger pipes and drains because of all the new subdivisions”?
If so why not obtain that extra cost from the developers and not from existing ratepayers?