Rates postponement is intended to help those on a fixed income, to continue living in their homes when they do not have the financial capacity to pay their rates, or where payment would create a financial hardship.
It is important to understand that postponement does not decrease the annual rates on your property, but it does delay when your rates are due and need to be paid. The accumulated rates (including compounding annual postponement fees) may significantly reduce your equity in the property.It is recommended you visit an independent financial adviser prior to applying and provide evidence of the visit. There are financial advisers in Christchurch who don’t charge for this service.
A postponement can only be applied to the property that is your primary place of residence. Additionally, you will need to include sufficient information to demonstrate financial hardship, such as financial accounts.
Up to 100% of all rates charges may be postponed, including arrears owing from previous financial years. Or, you may choose to continue to make some payments to reduce the accumulating liability.
Apply for rates postponement
Download and complete a rates postponement application form. Then email or post it to the address shown on the form.
When completing your application form, please ensure that:
- all owners of the property sign the application form.
- a copy of identification ID, such as a New Zealand drivers license, is provided.
- you supply an email address and phone number.
If your postponement is approved:
- we may put a formal charge over the property, similar to a mortgage
- rates charges will continue to accrue, but will no longer be payable on the normal due dates
- no late payment penalties will be applied, however, an annual fee will be added at the end of each rating year to recover our interest and administration costs.
All postponed amounts, including the added annual fees, will become payable when the property is sold or no longer used as the applicant's primary place of residence (or, for younger applicants, if they regain the financial ability to pay).