No rate rise relief: Palmerston Council lays out draft 10-year financial plan for public comment
Palmerston residents are facing the prospect of rate rises of no less than 3.9 per cent over the next 10 years. Read why.
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Palmerston residents are facing the prospect of rate rises of no less than 3.9 per cent over the next 10 years, 1.5 per cent above the current inflation rate.
The projected rises are explained the City of Palmerston’s draft Long-Term Financial Plan 2026-35 which has been released for community feedback which closes in a week.
Council says the plan uses financial modelling to help see what the finances might look like over the next 10 years.
Of particular significance within the draft plan is two financial scenarios “to demonstrate to the community the options for City of Palmerston’s future”.
Council says Scenario 1 modelling indicates that rate increases of 3.9 per cent each year will maintain existing service levels for the community, “ensuring we can maintain important community assets and infrastructure, and fulfil the outcomes identified in the Community Plan for Palmerston”.
Alternatively Scenario 2, modelling of a mix of 4.9 per cent and 3.9 per cent increases each year which it says will achieves the same goals. Council says some targeted years at 4.9 per cent would mean that funds would also be available for more major projects or initiatives “to benefit the Palmerston community”.
Council said the draft plan acknowledges council’s present and prospective financial capabilities and helps predict income and spending so council can meet its goals, take care of assets, and plan for future financial challenges.
It says given that 85 per cent of operational revenue is currently derived from annual rates and waste charges; to enable City of Palmerston to continue to meet its long-term strategy, it must factor an increase in rate revenue over the next 10 years.
It said the plan is designed to sustain the provision of community services, deliver essential facilities and infrastructure to the community and initiate projects aligned with the objectives outlined in Council’s Community Plan.
Mayor, Athina Pascoe-Bell said the plan maintains existing service levels and initiatives such as free community facility hire and pool entry, community events and parking
“As Palmerston grows and changes, we need a long-term financial plan that matches these changes,” she said.
“This year, within the plan we’ve created two options to share with the public.
“These options show how we can keep a healthy financial reserve while also taking care of our assets over the long term.
“We always look for ways to talk with residents and include them in making decisions. I encourage the community to read Council’s draft Long-Term Financial Plan and join the conversation to ensure we continue to meet the needs and expectations of our community.”
The draft Plan can be viewed online, at Civic Plaza, City of Palmerston Library or the Palmerston Recreation Centre.
Community members are encouraged to contribute to the decision-making process, with feedback open until 22 May 2025.
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Originally published as No rate rise relief: Palmerston Council lays out draft 10-year financial plan for public comment
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