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The top rate was 43.75% in 1921. Tax rates were lowered in the 1920s and in 1930 the top income tax rate was set to 29.25%, and the threshold lowered to £260 of annual income. [7] By 1939, and before World War II, the top rate was 42.9%. During the war, there were huge rises in the top rate, taking it to 90%.
The Local Government (Rating) Act 2002 of New Zealand is an Act of New Zealand's Parliament that empowers Local Government bodies to levy property taxes on property owners within their jurisdictions. These property taxes are called rates. They are assessed annually and usually paid in four equal instalments.
While the Auckland Regional Council had power to impose property tax rates on suburban areas such as North Shore City, local residents voiced strong opposition. [ 11 ] [ 12 ] There was a pattern of conflict between local authorities and Auckland city officials regarding many matters, such as transportation, land purchases [ 13 ] and decay of ...
The property bubble in New Zealand is a major national economic and social issue. Since the early 1990s, house prices in New Zealand have risen considerably faster than incomes, [1] putting increasing pressure on public housing providers as fewer households have access to housing on the private market.
Although the National Party had opposed state housing in the 1938 election campaign, suggesting that it was a step towards the nationalisation of private property, in 1949 it promised to continue building state houses but also to allow tenants to buy them. Most people wanted to own their own homes, and this policy helped National win the election.
In the financial year ending June 2007, Auckland City Council had operating revenue of NZ$552 million, of which 68% came from Council rates, which were NZ$859 per ratepayer on average. It expended NZ$343 million on capital projects, of which 45% went to 'transport' expenses, 19% to 'property and asset management' and 17% to 'open spaces, parks ...