Rating Strategy Consultation

Council has commenced a review of its rating strategy.

At its meeting on 23 November, Council endorsed the Rating Strategy Propositions Paper for community consultation. Submissions on the proposed Rating Strategy Propositions Paper were open from Wednesday 24 November to 5pm, Wednesday 15 December, 2021. Thank you to all of the community members who had their say during this period. 

About

As part of the Local Government Act 2020 (the Act), Council is required to adopt a four-year Revenue and Rating Plan, which was adopted in June 2021, however the Act allows the rating strategy to be reviewed and updated at any time.

In August 2021, Council commenced a review of its rating strategy and considered 22 different options with the aim to develop a strategy where the financial burden is shared equitably amongst ratepayers.

Previously, the most recent rating strategy review took place in 2019/20 and Council made the following key changes effective from 1 July 2020:

  • Removal of growth differentials from all rating categories
  • Establishing separate farm differentials for broadacre, intensive and small farms
  • Increase business property differential rate to 120% for Bannockburn

At its meeting on 23 November, Council endorsed the Rating Strategy Propositions Paper for community consultation. The Paper features two rating options for consideration:

Option 1:

  • Increase the Business Bannockburn differential from 120% to 130%;
  • Increase the Vacant Land (Non-Farm) differential from 200% to 220%;
  • Decrease the Municipal Charge from $310.60 to $250; and
  • Retain the status quo for the other differential rates.

Option 2:

  • Increase the Business Bannockburn differential from 120% to 130%;
  • Increase the Vacant Land (Non-Farm) differential from 200% to 220%;
  • Increase the Farm Broadacre differential from 85% to 90%;
  • Increase the Farm Intensive differential from 90% to 95%;
  • Decrease the Municipal Charge from $310.60 to $250; and
  • Retain the status quo for the other differential rates.

Read the Rating Strategy Propositions Paper

The proposed rating options in the Rating Strategy Propositions Paper redistribute the financial burden amongst ratepayers. The options do not reduce the revenue collected as rates, reduce Council’s budget, or negatively impact the delivery of the Council Plan 2021-2025.

The November 2021 Rating Strategy has been prepared in accordance with the Local Government Act 2020, Local Government Amendment (Fair Go Rates) Act 2015, Local Government (Planning and Reporting) Regulations 2020, Australian Accounting Standards and other mandatory professional reporting requirements. Financial sustainability is monitored by considering the financial result for the period and key financial indicators within Council’s Annual Budget and Long-Term Financial Plan.

Engagement Update

Submissions on the proposed Rating Strategy Propositions Paper were open from Wednesday 24 November to 5pm, Wednesday 15 December, 2021. During this period, Councillors held Conversation Posts in Bannockburn, Smythesdale, Dereel, Meredith, Inverleigh and Online, to hear community feedback on the Rating Strategy Propositions Paper. Thank you to all of the community members who had their say during this period. 

Rating Strategy 2022-2026

Following a review and community engagement in 2021, Council adopted its Rating Strategy 2022-2026 at its February 2022 meeting. Under the new strategy, the following changes are effective from 1 July 2022:

  • Increase to the vacant land differential from 200% to 205%
  • Increase to the farm broadacre differential from 85% to 87.5%
  • Increase to the farm intensive differential from 90% to 95%
  • Increase to the Bannockburn business property differential rate from 120% to 130%
  • Reduction of the Municipal Charge from $310.60 to $250

At the Council Meeting on 26 April 2022, Council resolved to make publicly available the data on the changes adopted in the new Rating Strategy 2022-2026, referenced as Option 5. 

Rating Strategy Data

A printed copy of the Rating Strategy data is available at Council’s Customer Service Centres: 2 Pope Street, Bannockburn and The Well, 19 Heales Street, Smythesdale. 

 

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