Why did Council review its rates?

Why did Council review its rates?
The NSW Government requires all merged councils to implement a new aligned rating system by 1 July, 2021. This is called harmonisation. The NSW Government requires all merged councils to implement a new aligned rating system by 1 July, 2021. This is called harmonisation. Rates; Resident

Your rates provide a range of community services, for the enjoyment, benefit and safety of the whole community.

Rates are the main source of revenue that pay for these services. This contribution, from residential and business ratepayers, is used to maintain community infrastructure.

In addition to paying for all the below services, $70 million every year is needed to keep assets maintained up to current standards.

However, once Council pays for all the services we provide to the community, we only have $39 million left to maintain our assets. This leaves a shortfall of $31 million every year.

Deferring the maintenance and renewal of many assets results in their deterioration.

If you want to know more about this, please read ‘A Funded Future’ the 2020 Economic Paper.

How are your rates spent?

Every $100 collected is distributed as follows across a range of services.

 

Legislation changes

The NSW Government requires all merged councils to implement a new aligned rating system by 1 July, 2021. This is called harmonisation.

You may not be aware, but currently residential and business ratepayers pay different rates depending on where their property address is located in the City.

As we all share the parks, pools, town centres, roads and footpaths it is only fair that ratepayers contribute equally to the cost of these facilities.

What will Council do with the new rates revenue?

You told us that you want a modern and clean City. This means providing a range of new services and facilities, as well as supporting and investing in our local economy. We want our City and its people to thrive now and in the future. To fund these new services and assets, $40 million per year is needed.

 

For additional questions or general enquiries around the rate review, email OneRate@cbcity.nsw.gov.au