Rates Harmonisation - Proposed Rating Structure and 20/21 Rates for individual councils..
Agenda Council Meeting 10 November 2020
Subject: Harmonisation of Rates
Prepared By: Daryl Jackson - Chief Financial Officer
Authorised By: Brian Barrett - Acting General Manager
[source page 10 of 20/21 budget in "Revised Delivery Program 2018-2022 and combined Operational Plan 2020/21 (PDF 452.1KB)" (note typo the second Ashfield should read Marrickville) https://www.innerwest.nsw.gov.au/about/the-council/corporate-planning-performance-budget/operational-plan/operational-plan-and-budget]
Attachment 1 - Minimum rate framework
What are minimum rates?
A rate - whether ordinary or special - may, at a council's discretion, consist of:
• a wholly ad valorem amount (i.e. based wholly on land value),
• an ad valorem amount that is subject to a minimum amount, or
• a base amount and an ad valorem amount.
With base amounts, every assessment starts off with the same level of rate, to which an ad valorem component is added.
Under a structure with minimum rates, the ad valorem amount is calculated and then compared with the minimum amount, and the ratepayer is charged the greater amount.
Where a council adopts a minimum rate for a particular category or sub-category, all ratepayers within that category or sub-category will pay at least that minimum amount regardless of their land value. Therefore, in most cases the use of minimum rates will impact ratepayers with relatively lower land values. ..
Source: GUIDELINES FOR THE PREPARATION OF AN APPLICATION TO INCREASE MINIMUM RATES ABOVE THE STATUTORY LIMIT https://www.ipart.nsw.gov.au/files/sharedassets/website/shared-files/local-government-special-variations-applications-for-special-variations-2020-21-special-variation-documents/office-of-local-government-minimum-rates-guidelines-2020-2021.pdf
Domestic Waste Charges also need to be harmonised at the same time.
|More about Domestic Waste Charges|