Bay of Plenty Council proposes 4% rate rise and asset restructuring for long-term savings and investment.

The Bay of Plenty Regional Council proposes a 4% general rates increase for 2026/27, down from 8.2%, as part of its draft Annual Plan. It is seeking public input on restructuring its $3 billion investment portfolio through a “hybrid model” that would separate port and non-port assets into distinct CCOs. The plan aims to protect long-term assets, support environmental and infrastructure projects, and reduce rates by using surplus returns and recycling capital. The council is considering limiting annual funding to $50 million plus inflation, exploring a Regional Benefit Fund, and increasing investment in indigenous biodiversity. No final decisions have been made on selling Port of Tauranga shares, though reducing the stake to 28% is under review. Public consultation is ongoing.