Limitation of increase in rates or charges levied
116 Limitation of increase in rates or charges levied
When a local government resolves to levy rates or charges, it also may resolve to limit the increase in the rates or charges.
The rates or charges may be limited to not more than—
if the rates or charges for the last financial year were for a full year—
the rates or charges for the last financial year; or
the rates or charges for the last financial year, increased by a stated percentage; or
if the rates or charges levied for the last financial year were not for a full year—
the corresponding annual amount for the rates or charges for the last financial year; or
the corresponding annual amount for the rates or charges for the last financial year, increased by a stated percentage.
The corresponding annual amount is the amount worked out by—
converting the amount of the rates or charges levied for the last financial year to a daily amount; and
multiplying the daily amount by 365.
The resolution may specify different percentages for—
different land or classes of land; or
different rates or charges.
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