Businesses owned by Auckland Council are being asked to tighten their belts in a bid to keep rates increases below four percent next year.
Rates are expected to increase by 5.2 percent in the 2013/2014 year because of a decision to extend rates transition to properties that have been renovated or added to.
Ideas on how to curb rates increases are being put forward at today's Economic Forum.
Auckland Council chief executive Doug McKay has requested staff and Council Controlled Organisations identify ways of reducing rates by cutting three percent of their net operating budget.
It won't be a blanket three percent cut across the board but will give councillors and local board members options to consider.
Photo: Edward Swift