Rates for the next 10 years
Rates for the next 10 years
|
|
2023/24 |
2024/25 |
2025/26 |
2026/27 |
2027/28 |
2028/29 |
2029/30 |
2030/31 |
2031/32 |
2032/33 |
2033/34 |
|
Total rates revenue* $000 |
51,129 |
58,856 |
62,241 |
65,416 |
68,745 |
71,386 |
73,618 |
75,226 |
76,807 |
78,777 |
79,925 |
|
Increase in total rates revenue* |
14.4% |
15.1% |
5.8% |
5.1% |
5.1% |
3.8% |
3.1% |
2.2% |
2.0% |
2.6% |
1.5% |
*Total rates revenue includes targeted rates from metered water that is charged to large industries and extra-ordinary water users.
Increases in three waters operating expenses, capital budgets and debt have a significant impact on Council finances in the early years of this plan.
The changes are driven by the need:
• to comply with tougher regulations - particularly for drinking water and sewerage treatment.
• to have more robust systems to deliver the services we provide to the standards expected.
Regulators can have a major influence on the focus and timing of investments Council has to make. Council has more choice/discretion in our other activities. For this reason, Council has decided to set two rating limits for the 10-year period:
Three waters
Targeted rates will not increase by more than:
• 25% in 2024/2025,
• 11% in 2025/2026 and 2026/2027
• and will not increase by more than 7% over the remainder of the 10-year period.
Other activities
Rates will not increase by more than:
• 12% in 2024/2025,
• and will not increase by more than 5% over the remainder of the 10-year period.
Wait... did you just say if I'm connected to water/wastewater, my rates are going up by 25%?
These limits relate to the targeted rates for water, wastewater and stormwater services – so those portions of your rates bill (combined) would increase by a maximum of 25% in year one, or 11% in years two and three. It doesn't mean your whole rates bill would increase by 25%