Deferred rate payments - Pensioners

Rates and rate interest rebates for pensioners

Pensioners in the City of  Port Phillip can now apply for a reduction in the interest charged for deferred rate payments.

The interest rebate scheme

• Eligible residents can receive a 50% rebate on the interest charged for approved deferred rate payments.
• Pensioners are therefore provided with an option to allow their rate debt to accumulate in lieu of making an annual rates payment.
• In these circumstances, the Council would recover the rate debt, together with interest, when the property is sold.

Eligibility

• To be eligible for the rate interest rebate, you must be a resident in the City of Port Phillip and be currently receiving a pension from Centrelink or Veteran's Affairs.

Pensioner rate subsidies

• The rate interest rebate scheme is made available in addition to pensioner rate subsidies.
• The City of Port Phillip already provides for a pensioner rate rebate of $97.00 in addition to the State Government's pensioner rate subsidy of $178.60.

How does this differ from other municipalities?

• The Council believes it is important to do all it can to assist these people to stay in their own homes and local community as long as they choose to do so.
• There are approximately 3,400 pensioner ratepayers in Port Phillip, many of whom are on low and fixed incomes. Nevertheless, the value of their home continues to rise.
• State Government legislation requires that pensioners opting to defer their rates should pay a penalty interest rate of 12.00%. This is well above current CPI and bank lending rates.
• The City of Port Phillip considers this requirement to be a potential burden on pensioner ratepayers and has introduced the interest rebate scheme to assist those who may be experiencing financial hardship.

More information

See the rates and payment of rates page for further information.

How to apply

Eligible pensioners wishing to defer their rates and apply for the rate interest rebate should contact Council's Rates Manager.

Use eServices to ask us a question, request information or give us feedback online. If you prefer call ASSIST on (03) 9209 6777 or TTy (03) 9209 6713 and ask for Rates.

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