Is it true council are putting up the rates?
Published on 15 September 2023
Despite a four-year financial sustainability program that has increased efficiency, improved reporting systems and reduced costs, a deficit of $103 million is forecast over the next 10 years.
So yes, Council is considering a possible rate rise as part of the action required to address this unstainable position.
We understand that many in our community are under financial pressure, but unfortunately the same things that affect households such as rising interest rates, cost of materials and limited ways to raise income, also affect Council’s ongoing operations and are contributing to the deficit.
Council is now faced with the difficult decision of considering three possible options that would require making an application to the Independent Pricing and Regulatory Tribunal (IPART) for a Special Rate Variation (SRV).
It’s important to acknowledge that any potential rate rise is not applied to the total rates bill, only the General Fund (or property rate) line on the bill.
Council’s budget process is complicated, and we’ve worked hard to be transparent and help people understand the issues and decision ahead. A series of fact sheets, common questions and a rates calculator where people can see how the three options might impact their own rates bill are all available to the community to help get informed feedback.
Community submissions, questions and survey responses will help with the decision ahead and we encourage all ratepayers to visit ksc.pub/financialfuture to have a say.
A report including the community feedback, options for reducing the impact on the most disadvantaged in our community and any further proposals for reducing expenses and services will be presented to Councillors in November.
If Council resolve to apply for a SRV, that application must be made to IPART in February 2024 with a determination expected in May 2024 ahead of any changes in the 2024-25 financial year.