Fair Go Rates System – Rate cap
The State Government has introduced, for the first time in the 2016/2017 year, the Fair Go Rates System. The system caps the amount Councils can raise the general rate by in any given year. The cap has been set at 2.5 per cent for 2019/2020. Councils can apply for a variance to the cap, City of Greater Bendigo did not apply for a variance for the 2019/2020 year.
City of Greater Bendigo has complied with the cap, increasing the 2018/2019 year annualised rate income by 2.5 per cent from $96.50M to $100.88M.
The cap does not apply to waste removal charges or the State Government Fire Services Property Levy. Percentage movements in waste removal charges can be found in the Rating Strategy.