No windfall for councils from land valuations
Published: 22 May 2023
Mayor Mathew Hatcher is assuring Eurobodalla’s property owners that recent large increases in land values will not result in similar increases in their rates.
“Property owners have recently received their updated land valuations from the NSW Government. The average value of land in Eurobodalla has increased by 61 percent since 2019, with some properties more than doubling,” Cr Hatcher said.
“Property owners will not see the same massive increases in their rates though. Because Council’s total general rates income can only increase by 4.3 percent next financial year, we recalculate and reduce our charges to stay within that limit.”
Council’s Director of Finance Stephanie Speedy said the calculation of general rates was straightforward.
“All properties have a base charge of $569.50, with a variable added charge based on land value and property category – either residential, business or farmland.
“For example, the average residential property with a land value of $522,766 will incur a general rate of $1,140.36, made up of the $569.50 base charge plus the $570.86 variable charge (0.001092 x $522,766).
“Other charges you may see on your rates notice include environmental levy, water charge, sewerage charge, garbage availability charge, garbage collection service charge, waste management charge and stormwater charge.”
Rates notices will be issued in late July. Visit the rates and payments web page for instructions on how to calculate your rates.
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