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Hamilton City Council Credit Watch

The Local Government Funding Authority, the organisation who provides loans to HCC have expressed their concern for the Debt level of HCC by placing the Council on a Credit Watch.

This is a concern to Residential & Commercial Ratepayers and Developers as the only source of income is through these three groups. We were introduced to a potential 16% average rate increase in 2018, significant increases in development contributions and finally settled on an average 9.7% increases with a SUIP and discussion over development contributions.

The promise of an ongoing 3.8% increase in rates is still above the annual CPI and negatively impacts our ability to make spending choices. The 3.8% increase each year means we purchase less than last year. For those on a low fixed income it challenges what food is put on the table and what clothes are purchased for a growing family.

Are we exposed to another significant increase in rates?

Councillors have been informed that Council has a spending problem, yet unbudgeted, significant expense proposals are continually presented to Elected Members for approval.

When is reality going to materialise that spending is a problem by all levels of Council?

What are the important factors for Residential & Commercial Ratepayers and Developers to improve the overall well-being of all Hamiltonians?

VOTE on the 12 October 2019 for candidates who understand the financial impact of rates on Ratepayers & Developers



 

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