Draft Revenue and Rating Plan out for public comment

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Corangamite Shire is encouraging residents to have their say on how Council calculates and collects revenue.

The four year Revenue and Rating Plan outlines how Council will generate income to deliver on the Council Plan, services and capital works.

Mayor Ruth Gstrein invited Shire residents to read the draft and give their feedback.

“Rates make up about 46% of Council’s annual income. This plan aims to spread the burden fairly and equitably across property owners in different categories.

“It recognises six rate categories: residential, commercial, industrial, vacant industrial, farm and cultural and recreational.

“Residential, commercial and industrial lands are all 100% of the general rate with differentials for farm, vacant industrial and culture & recreation lands.

“The farm rate differential will reduce by 0.5% to offset a spike in valuations. It’s the eighth year we have reduced the farm rate. It is projected to decrease by that amount each year for the life of the plan.

“These differential rates are calculated using good practice taxation principles which consider the value of property and also the capacity of ratepayers, or groups of ratepayers, to pay.”

Cr Gstrein said the plan would also guide decision making for other revenue sources such as fees and charges.

“The State Government’s rate capping regulations limit Council’s ability to raise more revenue.

“Costs of maintaining services and investing in community assets continue to rise so this plan explores other income options as well.”

Common income sources include landfill and transfer stations, waste management, kindergarten and childcare, pools, aged and health care services, leases and facility hire.

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