Published on Thursday, 23 May 2024 at 9:43:00 AM
The City of Vincent is seeking comment from ratepayers on the proposed differential rates and minimum payments for the 2024/25 financial year.
Council approved the advertising of its intention to levy differential rates and minimum rates in 2024/25 and to invite submissions from ratepayers at its 21 May 2024 Ordinary Council Meeting. The report can be found here.
Differential rates allow Vincent to apply rates to different categories – occupied and vacant residential and commercial buildings – with the aim to deliver a more equitable ratings system.
Your rates will go towards core services such as rubbish and roads, running costs of Beatty Park Leisure Centre and the Library and Local History Centre and maintenance of community facilities.
It will also contribute to key projects such as Robertson Park tennis precinct and the Banks Reserve upgrades.
Below are the proposed differential rates and minimum rates per category:
|
Rating category
|
Rate in dollar
|
Minimum rates
|
|
Residential
|
0.0782579
|
$1,451.23
|
|
Vacant – Residential
|
0.0844727
|
$1,331.75
|
|
Vacant – Commercial
|
0.1421566
|
$1,773.27
|
|
Other
|
0.0737357
|
$1,400.59
|
Proposed rates explained
The general rate in the dollar is 0.080144, which reflects the proportionate budget allocation of Vincent’s budget deficiency across the total GRV for all properties.
An addition to the notice of intention to levy differential rates and minimum payments, Vincent is proposing a 4 per cent rate increase in 2024/25 for the residential, other and vacant-commercial categories and an 8 per cent increase for the vacant-residential category.
For the median residential household, this equates to $63 per year or $1.21 per week.
The rate payments for residential properties will contribute to the delivery of essential services and community facilities.
The funds received for vacant residential category encourages the development of these properties which will improve local streetscapes and stimulate growth in the community.
The final rate figure applied to each property will vary based on the applicable rate in the dollar and the GRV for the property. These figures will not be available until after Council has finalised the annual budget process in June.
Vincent remains one of Perth’s lowest rating Councils, as it is currently ranked seventh lowest in 2023/24 based on a median residential GRV of $20,800.
Rates smoothing, instalment payment options and financial hardship assistance will be available for those in need.
Share your feedback
To provide comment on the proposed Differential Rates and Minimum Payments 2024/25, visit Imagine Vincent.
Comments can be submitted by 5pm Wednesday, 12 June 2024.
Following community consultation, Council will consider the feedback and vote on the draft annual budget at the 18 June 2024 Ordinary Council Meeting.
For more information, contact the Coordinator Rates and Receivables on (08) 9273 6000 or email mail@vincent.wa.gov.au
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