(1) The Auckland Council must set and assess a transition rate for each rating unit within Auckland for the 2011/2012 financial year.
(2) The rate must be assessed in accordance with—
(a) subsection (3), for a rating unit that is an unchanged rating unit (within the meaning of section 40 of this Act); and
(b) subsection (4), for any other rating unit (a changed rating unit).
(3) The rate on each unchanged rating unit must be a uniform percentage variation from the total liability of that rating unit for rates for the 2010/2011 financial year.
(4) The rate on each changed rating unit must be the same uniform percentage variation from the total liability for rates that the changed rating unit would have had for the 2010/2011 financial year had the information recorded in the rating information database for that unit for the 2011/2012 financial year been entered in the database for that unit in the 2010/2011 financial year.
(5) For the purposes of subsections (3) and (4),—
(a) the uniform percentage variation must be calculated to meet the rates revenue requirements of the Council for the 2011/2012 financial year; and
(b) the total rates liability of an unchanged rating unit or a changed rating unit for the 2010/2011 financial year is determined by the rates set in accordance with section 29B of the Reorganisation Act, excluding any rates set for water supply or wastewater services.
(6) A rates assessment for the 2011/2012 financial year does not have to contain any of the information required by section 45(1) of the Local Government (Rating) Act 2002 that does not apply in the area of the rating unit to which the assessment relates.
(7) In subsection (6), area means the former district of the existing local authority in which the rating unit is situated.
(8) This section prevails over anything to the contrary in the Local Government (Rating) Act 2002.