In response to the community’s outcry against large spikes in rates resulting from property revaluations the City has worked closely with the Department of Local Government to develop a concessions system which will help smooth the impact for Geraldton rate payers.
Mayor Ian Carpenter said the City of Greater Geraldton is leading the way in assisting ratepayers by developing and implementing a system that reduces the impact of rate spikes by spreading the effects of the valuation rise over three years.
“The City has worked very closely with the Department of Local Government to investigate what can be done to assist rate payers facing large spikes from property valuation and is the first Council in WA to develop and implement a concessions system to smooth the impact of these spikes on rate payers,” he said.
“Concessions only apply to residential properties in Geraldton who have had a valuation increase and pay rates over the minimum payment.”
A concession equivalent to two thirds of the rates increase directly attributable to the valuation increase will be applied in year one and in year two a concession equivalent to one third of the rates increase will be applied. By year three the new valuation will apply and no concession will be available.
Through the application of concessions, 2,463 property owners who would have rate increases over 10% will have their net increase reduced as a result. Approximately 64% of property owners will have a net rate increase of 5% or less as a result of the application of concessions.
Mayor Carpenter says that although 32% of property owners will have a reduction or no net increase in their rates in 2015/16, concessions will provide needed relief for rate payers experiencing spikes in their property valuations.
“Approximately 32% or property owners will experience a reduction or no net increase in rates this coming year. However, it’s important to provide these concessions to those whose property valuations have increased.
“These concessions will significantly reduce the number of properties that were likely to have considerable increases in their net rates payable as a result of the new valuations determined by the State Valuer General.
“The Council does not want to be put into the same position we were three years ago when a large number of property valuation increase were around 30% which resulted in large increases in rates for those property owners,” said Mayor Carpenter.
“By developing and implementing the rates concessions over the next three years Council hopes to provide some rates relief for property owners.”
Geraldton Gross Rental Valuations Residential Non Residential 2015 - Download PDF