THE PROPOSED BUDGET 2014/2015
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
THE City of Greater Bendigo says a proposed rate rise will help pay for capital works and service delivery.
The council says the rise is in line with its 10-year financial plan.
Rates payable on a home valued at $317,000 (Greater Bendigo average) with a small garbage bin will be $1,441.35 or $27.72 per week – an increase of $1.70 per a week.
The Municipal Charge, which was last year halved to $32.40, will now be discontinued.
“Council continues to ensure that the City’s finances are well-managed and that our ratepayers’ money is spent where it is needed,” Mayor Cr Barry Lyons said.
“Rates represent 52 per cent of Council’s revenue, with other sources including fees, user charges and government grants.
“The proposed Budget seeks to strike a balance between what is affordable and the need to provide services and infrastructure for our fast growing community.
“Without revenue from rates we would be unable to deliver many of the capital works projects and services that our community is asking us for.”
Organisation Support Director Marg Allan said while overall rate revenue would increase by six per cent this did not mean individual ratepayers woiuld pay a uniform six per cent increase, with some paying more and others paying less.
“To achieve our overall revenue target, we strike a rate in the dollar (0.3927% in 2014/2015). When calculating individual rate notices we then multiply this rate in the dollar by the value of the property,” Ms Allan said.
“This year is a revaluation year, so new property valuations undertaken in January will be used to calculate individual property rates for 2014/2015.
“Revaluations are influenced by the property market which means individual property valuations are not adjusted uniformly. For example, properties in one suburb may increase more or less than those in another.
“As a result of every revaluation there are ratepayers who will pay more than the overall rate rise and others who will pay less.”
How much you will pay
For a residential property valued at $240,000
$240,000 x 0.3927% = $942.45
+ $135.00 for 140 litre bin
+ $61.50 for recycle bin
= $1,138.95 or $21.90 per week
For a property valued at $317,000 (average in Greater Bendigo)
$317,000 x 0.3927% = $1,244.85
+ $135.00 for 140 litre bin
+ $61.50 for recycle bin
= $1,441.35 or $27.72 per week
For a residential property valued at $400,000
$400,000 x 0.3927% = $1,570.80
+ $135.00 for 140 litre bin
+ $61.50 for recycle bin
= $1,767.30 or $34.00 per week