Tamworth Regional Council has welcomed the Independent Pricing and Regulatory Tribunal (IPART) announcement in relation to its Special Rate Variation application for 2012-2013.
Council can now proceed to formally consider the rates structure for the coming financial year as part of its Community Strategic Plan, Draft Annual Operational Plan and Draft Delivery Program.
IPART announced on 4 June 2012 that it has decided Council can increase its general rate income by 14.6 per cent in 2012-2013 to fund additional asset maintenance and renewals work. The approved increase includes the 3.6 per cent rate cap available to all NSW council and an additional 11 per cent ordinary rate increase. Council had applied for a total increase of 20.6 per cent (17 per cent above the rate cap).
The 14.6 per cent increase, if adopted by Tamworth Regional Council, will be retained permanently in its income base and includes the 3.6 per cent rate peg available to all NSW councils in 2012-2013.
An IPART report of its determination of Council’s application said partial approval was given mainly because its analysis of ‘a range of capacity to pay indicators’ showed the impact of a 20.6 per cent increase would not be reasonable on the region’s ratepayers but that ‘a lower increase of 14.6 per cent would have a more reasonable impact’.
IPART also have all council determinations, including the determination for Tamworth, available on their website.
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