CAMPASPE Shire has endorsed its revised rating strategy and will now be released for public comment.
Mayor Adrian Weston said the strategy is an important document which outlines the rationale for applying fair and equitable rates in the shire.
“Council has not changed the approach to the collection of rates that was endorsed in its initial strategy in 2012,’’ he said.
‘‘The strategy however needed to be updated in line with introduction of Victorian Government rate capping (2.25% for 2018/19), along with changes to the Local Government Act 1989 and Valuation of Land Act 1960.’’
Council’s strategy aims to break down the rate charges in a way that is fair for each type of property across the shire.
This break down is:
■General land – 100 per cent of the rate.
■Farm land – 90 per cent of the rate.
■Commercial and industrial land – 116 per cent of the rate.
■Cultural and recreational land – 50 per cent of the rate.
Like most Victorian councils Campaspe Shire uses the Capital Improved Value (CIV) system as a basis for calculating rates.
CIV is determined by a valuer who looks at the market value of the land plus any improvements made.
More details on these processes are outlined in the rating strategy which is available on council’s website.
“Rates are important as they contribute to the funding of services, assets and programs on behalf of the community,” Cr Weston said.
“Council relies on rates for approximately 45 per cent of its annual income, which is less than the state average of approximately 50 per cent.
‘‘The other major funding streams are user fees and charges (23 per cent), grants (14 per cent) and waste charges (8 per cent).
“Council acknowledges rates and charges should be simple so they can be easily understood, easy to administer, be consistent with council’s major policies and minimise any detrimental effects on the local economy.”
The rating strategy is now available on council’s website and through customer service centres, with public feedback closing at 5pm on Tuesday, June 5.