Ratepayers in the Snowy Monaro Regional Council have until Thursday, 24 June, to comment on council’s proposed rating structure for the 2021-2022 financial year.
Following a second extraordinary council meeting in Cooma last week, councillors agreed to support a simplified rates structure (option two) which will see a base rate, plus an ad valorem rate, applied to most properties.
Councillors agreed the implementation of a clear and simple rating structure would most benefit the community.
They commended community members for their contributions to the revised option, as well as council employees for their extensive work on the options modelling.
Under the proposal, all landowners across the entire region will fall under the business, farmland or residential categories, with one subcategory in the business category for electricity generation.
For the 2021-2022 financial year, all landowners in the business, farmland and residential categories – other than land covered by the electricity generation subcategory or mining category – will pay a base rate of $475, plus the ad valorem rate of $0.0033568 for every dollar of land value.
The base rate will be applied to comply with the requirement for only 50 per cent of the rates levied to come from this base rate.
The ad valorem rate will then be calculated to raise the maximum permissible yield available to council.
The introduction of a new rating structure will lead to changes in an individual’s rates.
However, the changes will not lead to council receiving any more rates revenue overall and the resolution means council will meet the legislative deadline for rates harmonisation and public exhibition of the rates structure.
The revenue policy, which contains the rate structure, is now on exhibition to the public at the Your Say Snowy Monaro website.
Hard copies will be provided for community review at all council offices and libraries, and the rate calculator will be on council’s Your Say website so residents can assess their level of impact.
The exhibition period will close on Thursday, 24 June, 2021.