It has called on the Victorian government to scrap the controversial cap after releasing new job loss figures for the city and the rest of central Victoria.

The Victorian government has capped rate rises since 2016 and has long maintained it reduces cost-of-living pressures on property owners.

The latest figures build on findings from a union-commissioned Australia Institute report into rate capping released last December, which found $850 million could have been wiped from Victoria's gross domestic product this financial year alone.

More news: Daily COVID-19 case numbers drop in Greater Bendigo

The Bendigo council's workforce could be short 93 jobs, and the wider economy another 40.

That is because the council may have paid contractors as much for projects, or helped sustain workers in other industries like retail and hospitality.

Those figures were rough guides based on the methodology economists used.

Every part of central Victoria lost potential jobs, the union said.

Kyneton's Macedon Ranges Shire lost an estimated 57 public and private jobs.

Castlemaine's Mount Alexander Shire and Echuca's Campaspe Shire lost more than 20 jobs, according to the Australia Institute's estimates.

The government has tied Victorian rate rises to inflation since 2016.

That immediately halved the sorts of yearly rate rises the council had been imposing, which had hovered at around five per cent.

Greater Bendigo rate rises have averaged 2.125 per cent since then.

More news: Webb and Co apartments in Bendigo CBD completed, open for inspection

Smaller rises have not necessarily eased financial pressure many Greater Bendigo residents face, though.

The state government does not cap rises on individual properties, just the average rise across a municipality.

So some people in Greater Bendigo could see their rates rise higher than the 1.75 per cent the government has mandated for the coming financial year.

Then again, some people's could end up being lower, since rates are determined by a range of factors including property rezonings and market valuations.

Our journalists work hard to provide local, up-to-date news to the community. This is how you can access our trusted content: