Parnell Inc.'s Targeted Rate

As part of Auckland City Council's Mainstreet/Business Improvement District (BID) programme, Parnell Inc.'s activities are funded via a targeted rate on non-residential properties within the association's Council-defined boundary area .

In the 2009/10 financial year, the targeted rate for non-residential properties within Parnell Inc. is $0.013785 in the dollar, being 1.38% of the property's rateable value. In the 2009/10 financial year, this targeted rate provided $281,416 in funds for Parnell Inc. activities for members.

A full explanation of how Auckland City Council calculates Mainstreet/BID rates can be found on Auckland City Council's website here, together with information on the targeted rates for all 17 Auckland Mainstreet areas.

In relation to Mainstreet rates in other Auckland areas, from highest to lowest rate levied, Parnell ranks 12th of 17 areas. Generally, members in smaller Mainstreet/BID areas have a higher rate, while the volume of non-residential properties in larger areas allows a lower rate to be charged in order to provide funds necessary for Mainstreet/BID activities.

Parnell Inc.'s targeted rate is 1.38% of the rateable value. Auckland City Council expresses rating amounts in this manner as this is the way they are shown on rates bills. That is, Council shows the annual (rateable) value of the property, the rate or charge in relation to that annual value and the subsequent total being charged for the year for that specific rate.