The city's debt will rise by more than $1 billion over the decade to $3.69b, the draft Long-Term Plan says. Photo: 123RF
Christchurch City Council is proposing a rates rise of 15.84 percent this year, followed by an increase of 8.2 percent next year.
The council has this afternoon released its draft Long-Term Plan - its budget for the next decade.
"The average house will have a rates increase of $9.65 per week," a council report said.
The council proposed more than $6 billion of capital spending over the 10 years. The city's debt would rise by more than $1 billion during that time to $3.69b.
While rates hikes would be high in the first two years, the council forecast they would drop to about 4 percent in year three. The cumulative rates increase over the decade was forecast to be 53.6 percent.
The council would also go from spending $69.2 million in 2024/25 on repaying debt to $155m in 2033/34.
"You've told us that maintaining and improving the condition of our existing roads, footpaths and cycleways matters to you, as does protecting and upgrading our water networks.
"For the first three years of our Draft Long Term Plan we propose to spend $226 million on road, footpath and cycleway renewals alone, including resurfacing (asphalt, chip seal and pavement reconstruction).
"We're also proposing to invest $486 million of capital spend on renewing and upgrading our water networks - drinking water, stormwater and flood protection and wastewater - in our first three years," the draft consultation document said.
"In addition to the core programme we have committed $286 million through 2025 to 2027 to complete Te Kaha, Canterbury's multi-use arena.
Te Kaha Stadium takes shapes in the CBD. Photo: RNZ / Nate McKinnon
"We're spending $7.4 billion on the day-to-day services the council provides, such as waste collection, libraries, recreation and sport, and more."
The council would borrow $2.3b for the capital programme and repay $1.2b of existing debt, while keeping within prudent financial benchmarks, the draft document said.
"We're making savings of $6.1 million in 2024/25. Over the whole period of the Long Term Plan, we've identified $41.0 million of operational cost savings and additional revenue, without impacting on current levels of service."
Councillors will debate the draft plan next week, before it goes to the public for consultation.