Special Rate Variation
A special rate variation allows a council to increase its general income above the rate peg, under the provisions of the Local Government Act 1993 (NSW).
In the case of Maitland Council, the approval by IPART in June 2014 was to increase total rates revenue by 7.25% each year for seven years to ensure the organisation is able to financially sustain service delivery to our growing community.
Under the approved rating package, Council committed to enhancing services in key areas of community priority and to continue to maintain existing services. Council also agreed to an annual productivity savings target of $500,000 each year commencing in 2015/16.
Importantly, while Council’s total rate revenue will be increased by 7.25% each year for seven years, this does not equate to the same percentage increase for each household or business. Rating is complex, with a number of rating categories each with a different rate in the dollar combined with property values.
Further details on the Special Rate Variation process can be found at www.ipart.nsw.gov.au