FAQs
What is the Revenue and Financing Policy?
The Revenue and Financing Policy is about where the funding (money) will come from, and how Greater Wellington will share the costs of services across the region, and among different groups of ratepayers.
Our Ratepayers are classed as: Residential, Rural and Business (also CBD Business for Wellington city).
This Policy is one of several policies required by the Local Government Act (2002).
Why is this survey for Businesses and not Residents?
During the previous Policy review, it was noted by Councilors that they felt they needed more information from Business ratepayers for the next review to give them added confidence in their decision making process.
Businesses have the opportunity to provide feedback during public consultations, however they are out numbered by submissions from the residential and rural ratepayers. This may, or may not, be because the focus of previous consultations have had impacts to residential and rural ratepayers more front of mind and not the wider economic impacts as a direct result to business ratepayers.
This survey is an opportunity for us to understand more about our business ratepayers, to help provide sufficient information to reassure Councilors are making the best decisions they can.
Residential and Rural ratepayers will have other opportunities to also express their opinions.
When will the Policy be reviewed again?
Legislation requires the Policy to be reviewed at least once every five years, however Greater Wellington generally reviews it every three years in line with the Long-Term Plan process.
We are planning to review the next version of the Policy soon. In early 2026, we will start the journey with the new Council (following the October elections), educating and identifying issues, followed by looking into some options while discussing the benefits and impacts.
We are aiming to consult on potential changes in late 2026 with an adoption early 2027, a few months ahead of the 2027-37 Long-Term Plan.
What is equalised capital value (ECV)?
Rates are calculated based on property values. Greater Wellington uses Equalised Capital Value as the measure of property value. Within the region, different territorial authorities undertake general revaluations at different times.
To equalise the values, Greater Wellington gets Quotable Value to estimate the projected valuations of all the rateable land in the districts within the region, each year.
This estimation is enabled under s131 of the Local Government Rating Act. It means that rates are assessed on a consistent valuation basis, regardless of the timing of individual territorial authority revaluations.