New Zealand Acts

URBAN DEVELOPMENT ACT 2020 - SECT 194

194 When excess rates are refunded to ratepayers

1 This section applies if, at the end of the period for which a targeted rate is payable,—

a) Kāinga Ora holds an amount of revenue from the rate that exceeds the costs incurred by Kāinga Ora, or a person referred to in section 193(2)(a) , in relation to the activity or group of activities specified for the rate in the targeted rates order; or

b) a relevant territorial authority holds an amount of revenue from the rate that it has retained in accordance with section 199 .

2 If subsection (1)(a) applies, Kāinga Ora must pay the excess revenue to the relevant territorial authority.

3 The relevant territorial authority must—

a) credit to the rates records of affected rating units or separate rating areas the excess revenue that the authority receives from Kāinga Ora or that it has retained; and

b) in apportioning the excess revenue between each affected rating unit or separate rating area, apply the same method as was most recently used to assess ratepayers’ liability for the targeted rate.

4 However, the relevant territorial authority may retain an amount of the excess revenue to cover the reasonable costs of the authority incurred in complying with subsection (3).

History: Section 194(3)(a): amended, on 1 July 2021, by section 89(1) of the Local Government (Rating of Whenua Māori) Amendment Act 2021 (2021 No 12).   Section 194(3)(b): amended, on 1 July 2021, by section 89(2) of the Local Government (Rating of Whenua Māori) Amendment Act 2021 (2021 No 12).