New Zealand / Money

Three-year rates holiday on the cards for Wellington earthquake-prone property owners

20:31 pm on 17 August 2023

(file image) Photo: RNZ / Dom Thomas

Wellington city councillors will consult the public about a plan to give owners of earthquake-prone properties a three-year rates holiday.

It is an amendment made by councillor Iona Pannett as part of the council's long-term financial plan.

If officially voted in, earthquake-prone property owners will have three years where they will not have to pay their rates to give them time to strengthen their buildings.

If the work is done lawfully and the owners get a Code of Compliance, they will not have to pay the rates back.

About 250 earthquake-prone buildings need to be repaired by 2027.