Will Council get more revenue from the TAFCB and ED Targeted Rates?

No. The costs under these new rates are already being funded by existing rates and will just be charged differently.  The costs of running Te Awahou Foxton Community Board (TAFCB) are currently being recovered as part of the Representation & Community Leadership rates and this is a fixed charge paid by every property in the district. The change transfers the costs out of this rate to the new targeted one. This would mean that the costs would only be paid by those that are within the Foxton/Foxton Beach community.

Economic Development (ED) has been funded entirely through the districtwide General Rate, with the costs shared across all ratepayers. However, the level of benefit that ratepayers experience from the funding Council puts into economic development will vary, with the greatest benefit being experienced by the business community. 

The economic development funding covers business support and advice provided to existing businesses, Iwi and Māori economic development, inward investment, training opportunities, communications, and provision of economic data. The majority of this budget is provided to The Horowhenua Company Limited (THCL) who hold the current contract to deliver economic development services on behalf of Council. 

Adding a targeted rate to reflects the benefit that businesses gain from having more people either moving to our district or visiting and spending on goods and services here.