And farmers' rates bills would be slashed, with a new promise of even more cuts from mid-2022 if they embrace sustainable land practices.

The changes are contained in a revised draft of the 2021/22 budget and four-year rates plan.

Councillors will consider the alterations when they meet on Thursday.

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Council staff previously proposed raising rates charges for vacant land to twice the amount most residents in town would pay.

That idea was originally proposed after developers told the council they could not buy land fast enough to keep up with surging demand because of population growth, council corporate performance director Andrew Cooney told reporters in April.

"Whilst we are seeing a really busy construction industry right now ... there is a concern that if plans are not continued to be developed then in a couple of years the construction industry may not see the same sort of activity," he said.

The council has now proposed postponing vacant land rate rises above the existing 125 per cent of general rates.

Budget documents show that the council has amended the idea after community feedback.

The document appears to suggest a concern about substantial rate rises while people are still being affected economically by the pandemic.

The council charges people different rates depending on what land is used for.

For example, business owners pay upwards of 180 per cent of general charges. Farmers pay 85 per cent because they are assumed to be asset rich but cash poor.

Farmers could benefit under the proposed budget. Their rates would drop another 10 per cent, compared to a general person.

Some farmers could have a greater windfall the following financial year, under a four-year rate plan linked with the budget. It proposes a "sustainable farm rate" with extra cuts for those embracing sustainable practices.

Rates and charges would make up $63 per cent of the Bendigo council's income over the coming financial year.

It would include a rate rise of 1.5 per cent, on average, for ratepayers.

That is in line with a government imposed cap designed to slow the amount Victorian ratepayers are charged.

People will be able to get 1.5 per cent off their rates bills if they pay in full by September 30, the budget plans show.

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