Council received the report and data from the State Government regarding the value of all properties located within the shire – a process all Victorian councils must undertake annually.
Increases were also evident on properties classified for commercial/industrial use (4.84 per cent), dryland farming use (9.81 per cent) and irrigation farming use (8.14 per cent).
“The Valuer-General’s report, combined with the Capital Improved Value figure used for each of the five land classifications within Gannawarra will be used to determine what each landowner will pay in municipal rates for 2019-20,’’ council’s director of corporate services Phil Higgins said.
“Council had factored in movements in property valuations between 2018-19 and 2019-20 of figures between 4.83 per cent for commercial/industrial properties to 11.85 per cent for farm dryland when determining the proposed 2019-20 Budget, which had been absorbed into the average rates increase of 2.5 per cent.”
The release of the annual valuation data coincided with the Essential Services Commission’s report into the Fair Go Rates System for 2016-17 and 2017-18.
“Overall, the ESC’s report found rate capping has reduced rate increase for the average ratepayer and the sector’s overall revenue remained relatively stable due to population and associated property growth and increases in revenue from other sources,” Mr Higgins said.
The ESC’s report also found Gannawarra Shire Council complied with the rate capping requirements, and income and expenditure trends have been relatively stable for the two years post rate capping.