Council reinforces commitment to better roads and improved services
Snowy Monaro Regional Council is pleased to announce that the additional funds generated through the approved Special Rate Variation (SRV) are being strategically invested to enhance our community’s road infrastructure and elevate the performance of our organisation.
How the Special Rate Variation has impacted rates
For the financial year 2023/2024, there are two key factors influencing the calculation of the general rate levied upon properties within our council area:
- Revaluation of land by the NSW Valuer General: The NSW Valuer General periodically updates land valuations, and this year, we have implemented the 1 July 2022 land values for rating purposes. Rising property values do not equate to an increased amount of rate income for Council. Council is able to increase its total rate income only through the annual rate peg and/or a special rate variation.
- Special Rate Variation (SRV): Under the Local Government Act, Council applied for an SRV, which was approved. The General Rate for 2023/2024 has been increased by 12.25%, with subsequent yearly increases of 10.25% for the following three years planned (but not yet approved by councillors). This measure allows us to go beyond the standard annual rate peg and generate additional funds for vital community infrastructure renewals.
Investing in roads and a better organisation
The additional revenue generated by the SRV amounts to $1,480,948 for the financial year 2023/2024. This significant influx of funds enables us to focus on two essential areas:
1. Road infrastructure improvement: 56% of the additional funds are allocated to improving our road network. Better roads mean safer commutes, improved connectivity, and enhanced accessibility for all residents and visitors to the Snowy Monaro region. Our aim is to ensure smoother travel experiences and contribute to the overall growth of our community.
2. Enhancing Council performance: 43% of the additional funds are allocated to organisational and asset management improvements. Council is committed to becoming a more efficient and effective organisation. With the additional resources, we will invest in training and strategic recruitment to key areas to enhance service delivery, and substantially improve our asset management practice and processes.
Impacts of changes in land valuations
At Snowy Monaro Regional Council, we believe in transparency and accountability. We have provided a table below to give you an overview of the changes in General Rates levied for 2023/2024 compared to the previous financial year. Please note that these figures may not apply to properties with recent amalgamations or splits that have occurred since the last revaluation.
General Rates levied in 2023/2024:
Change to individual general rates | Number of properties | Average % change in land value | Comment |
Decrease | 4,639 | 58% | Mainly farmland and large lot residential |
Increase less than $200 | 5,756 | 133% | Mix of business, residential, and farmland |
Increase $201 – $500 | 1,766 | 216% | Mix of low density housing and farmland |
Increase $501 – $1,000 | 1,379 | 234% | Mix of low density housing and farmland |
Increase $1,001 – $1,500 | 453 | 276% | Mix of low density housing and farmland |
Increase $1,501 – $2,000 | 155 | 310% | Mix of farmland and large lot residential |
Increase $2,001 – $3,000 | 96 | 291% | Mainly farmland |
Increase $3,001 – $4,000 | 19 | 303% | All farmland |
Increase more than $4,000 | 4 | 274% | All farmland |
We want to assure you that we have carefully considered the impact of these rate changes and have strived to strike a balance between investing in crucial infrastructure and ensuring affordability for our residents.
