A $350 million wastewater project is leading the deluge of cost pressures on Palmerston North’s long-term budget. A costly wastewater project risks crippling successive budgets and ballooning rates in Palmerston North. READ MORE:* Tactical approach to make Palmerston North streets more friendly* Council faces tough balancing act to help Palmerston North through Covid-19 crisis* Palmerston North seeks a more ambitious visionMurray Wilson/Stuff Palmerston North city councillors are faced with a long-term budget staff warn they cannot afford. Residents could be faced with a 6.9 per cent rates increase in 2022, rising to a double-digit 12.9 per cent increase in five years’ time. The proposed rates increase for next year alone would see the average rates bill for a property with a land value of $243,000 go up from $2639 to $2820.

Source: Stuff February 16, 2021 04:41 UTC