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