Under the Victorian Government’s rates system, the Minister for Local Government sets the average rate cap – the maximum percentage a council’s average rates can increase by – each year. A council may apply to the Essential Services Commission for a higher percentage if it believes this percentage is not enough for it to be able to deliver the services and projects it needs to for its community. As part of our financial strategy, Port Phillip Council seeks to manage its costs and revenues to stay within the rates cap.
The Minister for Local Government has capped rates at 2 per cent for 2020/21.
However, this does not mean your rates bill will increase by 2 per cent. What it does mean is that the total amount of revenue collected through rates will increase by 2 per cent. Your rates bill may increase or decrease depending on a number of factors, in particular the change in the value of your property.
Visit Valuations for more information.