Tauranga Council has the highest debt per capita in New Zealand (see the below chart).
These figures have been prepared by John Robson (Johns Website). Total council debt including off the books IFF debt is estimated at around $3 billion by 2034. The graph below shows the estimated debt, $2.5 billion by 2030.
The debt graph above is taken from Glen Crowther at Sustainable BOP (Glen’s website). Some of the debt and other issues that the commissioners have left for the incoming council are listed below (includes items from Glen Crowther SBOP).
- TCC already has a worse debt situation than Christchurch
- TCC’s debt is likely to increase to $1.55 billion by June 2026
- There’s an additional $177 million ‘off the books’ IFF debt
- There is likely to be even more ‘off the books’ debt to come
- There’s currently $2.2 billion shortfall in 3 waters funding to 2034
- Even if that $2.2 billion is included, TCC isn’t planning to fund “all necessary” 3 waters infrastructure
- Commissioner Tolley has stated Tauranga’s transport plan has an additional $4 billion of currently unfunded transport infrastructure
- Tauranga’s residential rates are already the highest of any NZ city (well above Christchurch and higher even than Auckland)
- The marine precinct has secretly been sold.
Infrastructure Funding and Finance (IFF), is an alternative way for councils to borrow money over their debt limit, but at a higher interest rate. The IFF loans are funded by targeted rates.
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