Rate review proposal

Rate review proposal
It is proposed to apply for a rate variation to generate an additional $40 million per year by 2025/26. It is proposed to apply for a rate variation to generate an additional $40 million per year by 2025/26. Rates; Resident
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Step one: Harmonisation

Currently people pay different rates depending on where they live in the City. This is because we are a merged council. The NSW Government requires all merged councils to implement a new aligned rating system by July 1, 2021. This is called harmonisation. This harmonises minimum rate to $728.18 (residential) and $794.27 (business) in 2021/22. It will also harmonise the rate in the dollar over 5 years.

Step two: Increase the income stream

To ensure that we provide the services the community wants and deserves, an additional $40 million is needed every year.

Proposal

It is proposed to apply for a rate variation to generate an additional $40 million per year by 2025/26.
This will include an increase to the minimum rate for residential and business properties to $990 over 3 years (subject to legislative changes) and a Special Rate Variation (SRV).
Under this proposal, business rating sub-categories will be introduced and the Bankstown CBD Special Rate will be discontinued.
This proposal will address the current rates imbalance and bring about fairness and equity for all ratepayers.

 Calculator iconTo find out what this means for you, our rates calculator is available here.

For additional questions or general enquiries around OneRate, please contact us via phone 9707 5719 or email: OneRate@cbcity.nsw.gov.au.