New Information

New Information
The proposed increase in Council's ordinary rates income (inclusive of estimated rate peg increases, special rate variation increases and changes as a result of the harmonisation process) is summarised in the table below. New Information The proposed increase in Council's ordinary rates income (inclusive of estimated rate peg increases, special rate variation increases and changes as a result of the harmonisation process) is summarised in the table below. Rates
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​The proposed increase in Council's ordinary rates income (inclusive of estimated rate peg increases, special rate variation increases and changes as a result of the harmonisation process) is summarised in the table below. It should be noted that individual ratepayers' increases may be different from those shown above. This is because everyone's land value is different, and because rates are currently different across the City. The best way to see what the actual dollar impact will be for individual ratepayers is to use the rates calculator

Year  Annual Increase %  Cumulative Increase %
2021/222.00%
2.00%
2022/237.80%
9.96%
2023/247.80%
18.53%
2024/257.40%
27.30%
2025/267.10%
36.34%

 

The total cumulative impact of these changes is a 36.34% increase to Council's total general rating revenue by the end of 5 years. This increase would be retained permanently in the rate base (i.e. the rates payable in 2025/26 will continue to be payable, with the addition of the annual rate peg each year thereafter).

When dealing with the multiple cumulative increases under this proposed harmonised rate structure (including rate peg, harmonisation and special variation), it is not as simple as adding each component's cumulative % increase together. For example, if we started with $100:

  • 2021/22 – a 2% increase on $100 would be $102.00
  • 2022/23 – an additional 7.8% increase on $102 would be $109.96
  • 2023/24 – an additional 7.8% increase on $109.96 would be $118.53
  • 2024/25 – an additional 7.4% increase on $118.53 would be $127.30
  • 2025/26 – an additional 7.1% increase on $127.30 would be $136.34 

The cumulative impact on $100 dollars rates over the 5 years would be $100 + 36.34% = $136.34.

The following table provides additional detail, breaking down the cumulative % change for each rating category over the five year period.

 
Former Bankstown ​ ​ ​
Former Canterbury ​ ​ ​
Cumulative increase 2021/22 to 2025/26Residential minimums
Residential non-minimumsBusiness minimumsBusiness non-minimumsResidential minimumsResidential non-minimumsBusiness minimumsBusiness non-minimums
Rate peg12.59%12.59%12.59%12.59%12.59%12.59%12.59%12.59%
Harmonisation12.35%-6.97%0.00%-5.66%0.00%6.91%9.26%12.19%
Special Rate Variation30.19%15.89%19.11%26.89%30.19%16.85%19.11%30.19%
Total cumulative increase63.34%22.08%33.58%34.52%45.69%39.60%45.70%62.19%