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Griffith City Council will vote on the application to change the special rates for the rates of the next financial year | District News

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Griffith City Council will vote in favor of applying for a special rate increase by raising the rate increase above the IPART rate binding. An independent price and regulation court sets a maximum limit on which councils can increase rates per year, which is called “rate pegging”. The maximum limit in 2022/23 is 0.7 percent, which has caused some problems for councils in New Wales. There are exceptions under which councils can apply for higher rates than pegged, with Griffith City Council having to vote to apply a special rate variation to increase rates above the 1.3 percent limit, raising the rate increase to two percent. IPART said the councils could apply to raise rates to the interest rate published in their 2022/23 supply plan to a maximum of 2.5 percent. For Griffith, this means that two percent is the maximum increase that can be applied for according to the 2021 supply plan and budget. Changing the special rate would bring the rates in line with last year’s budget. A spokesman for the Board of Business, Culture and Financial Services Director Max Turner noted that there is a possibility that without a raise the board will not be able to fund any major projects and that not applying for a raise could adversely affect future applications. bid deviation. “An additional rate change of 1.3 percent will yield an additional $ 240,000 in 2022/23 and another $ 2.7 million over the next 10 years due to the effect of this one-time increase available for the ranking base,” – it is noted in the message. reported that the Council will vote at the next meeting. The council will meet and vote on the application at 7pm on Tuesday, April 12th. The full agenda is available on the council’s website. The meeting will be broadcast live on Griffith City Council’s Facebook page, and minutes will be posted on Griffith City Council’s website later. Our journalists make every effort to provide local, up-to-date news to the community. Here’s how you can access our trusted content:

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