Property Values and Rates
The NSW Valuer General provides a notice of valuation to property owners every three years and sends Council the new valuations.
There are a few things that determine whether your land value changes including location, usability and any land improvements.
The rates payable for individual rate assessments is worked out from the rateable valuation provided to Council by the NSW Valuer General combined with Council's rate structure.
Revaluations may result in the value of some land in the Shire increasing or decreasing more than other land. When this occurs the rate burden between individual rate assessments shifts, meaning that rates payable on some land may increase and some may not change very much, or even decrease.
The total rate income to Council doesn't change, but how it is allocated to residents changes based on valuation changes.
Increases approved by IPART
Council's total rate income is approved by the Independent Pricing and Regulatory Tribunal (IPART). For 2023/2024 Council's total rate income has been approved by IPART to increase by 3.7%. The permitted rate increase applies to Council's total rate income, but does not apply to individual rate assessments.
Once we receive the new rateable valuations, Council's rate structure is reviewed to ensure that it remains equitable.
The proposed 2023/2024 rates will be placed on public exhibition with Council's Draft 2023/2024 Delivery Program & Operational Plan and will be open for public submission prior to being adopted by Council.
