Rate increase for NSW ratepayers capped at 1.5%

19/07/2017

The NSW Independent Pricing and Regulatory Tribunal (IPART) has capped the total rate revenue increase for NSW Councils at 1.5 per cent for the 2017/2018 rating year.
 
Administrator of Georges River Council, John Rayner, explained that as of 1 July 2017, all NSW local government areas have had new Land Values issued for the 2017/2018 rating year.
 
“In a year when new valuations are issued, as is the case for 2017/2018, and when overall land values rise, Council makes adjustments so that the total rates income does not grow by more than the percentage increase approved by IPART,” he said.
 
“Under the new valuations, there will be a redistribution of the rate burden among ratepayers, depending on the relative variations in individual property land values.”
 
“Some properties may experience an above average rate increase and some may even receive a decrease, depending on the actual property value when compared to the average increase in valuations across the Council area.”
 
Mr Rayner added that up until July 2020 the former Kogarah City and Hurstville City local government areas will continue to have separate rate structures.
 
“The ‘Rate Freeze’, as required by the NSW Government means that in amalgamated Councils the rate structure will be the same as it was prior to proclamation, up until July 2020,” he said.
 
Mr Rayner also said residents will continue to receive the same Kogarah Domestic Waste Management charges and Hurstville Domestic Waste Management charges as experienced during the 2016/2017 financial year.
 
“However, there will be a CPI increase for the 2017/2018 financial year. Harmonisation of charges in this area is still being determined,” he said.
 
For more information please contact Council via 9330 6400 or visit www.georgesriver.nsw.gov.au.
 
[ENDS]