this post was submitted on 24 Jun 2026

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Wellington City Council considers sweeping rates changes (www.rnz.co.nz)

submitted 1 month ago by Ilovethebomb to c/newzealand

13 comments fedilink hide all child comments

They're considering moving towards rates based on land value, rather than land+improvements. Land value tax seems to be all the rage lately.

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[–] BaconWrappedEnigma 1 points 1 month ago (1 children)

This is pretty crazy. In Japan housing depreciates: https://www.youtube.com/watch?v=yxbXIobbxXU

[–] deadbeef79000 1 points 1 month ago

About ten maybe fifteen years ago the government disallowed accounting for depreciation on residential property improvements to try and calm the investment market.

You can still do it for commercial property improvements.

Crapping up the economy just to avoid a CGT.