Christchurch business leaders are welcoming a change to the way the city's property rates are assessed.
Local Government Minister David Carter has announced an order in Council, giving Christchurch City Council the ability to alter rates as needed, according to the true value of a property.
Currently, owners would have to pay rates based on the July 1 value of their property each year, even if it had been demolished the next day.
Canterbury Employers Chamber of Commerce CEO Peter Townsend says it makes good sense.
"We need flexibility in this highly volatile environment and we need to ensure the rating is fair and equitable and changes over time as properties change, so it all makes sense to me."
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