By Tony Moore
Brisbane's average residential rates bill will rise 3.8 per cent under Brisbane City Council's 2013-14 budget, lifting it by 88 cents a week or $45.60 a year.
This figure does not include increases in water bills, which are set by Queensland Urban Utilities, but does include charges.
Brisbane City Council is set to release its 2013-14 budget.Credit: Michelle Smith
The increase is lower than last year's 4.5 per cent rise but above Brisbane's consumer price index, measured at 2.1 per cent in the March 2013 quarter.
Full-time pensioner rebates will rise from $836 to $868, while part-time pensioner rebates will rise from $388 to $404, in the $2.9 billion budget.
Pensioners will keep their water rates remission of $472.
Wednesday's budget will be Lord Mayor Graham Quirk's third and his second since winning the mayoralty in his own right in 2012.
This budget will also see the allocation of $7.5 million to "fast-track" the installation of backflow valves in the inner city this year in order to reduce the risk of flood.
Money to accelerate the work comes from delaying the flood buyback scheme for 12 months.
It will mean about 1200 properties in St Lucia, Fig Tree Pocket, New Farm, Auchenflower and Milton – about 80 per cent of properties affected by backflow flooding during the January 2011 floods – will receive protection.
Brisbane City Council is Australia's largest local government and its budget spending issues are some of the most influential facing local governments in Australia.
Last year's budget aggressively pitched Brisbane as Australia's New World City, not anticipating a second hit from storms and floods in January 2012.
One of the budget highlights will be news on whether the council reached an agreement with Queensland Investment Corporation over a potential long-term lease of Legacy Way and the Go Between Bridge.
The deal would see QIC receive the majority of their toll revenue in return for freeing Brisbane City Council from complex maintenance costs.
Cr Quirk in January said it would free up $650 million and allow it to bring forward the second and third stages of the Kingsford Smith Drive road-widening project.
Council has until now kept the outcome of talks with QIC a very close secret.
The budget is also tipped to include money to revamp the Brunswick Street Mall and build the much-promised "all abilities" playground in Brisbane's Botanic Gardens.
In Tuesday night's council meeting, Cr Quirk said the council's debt would peak at $2.1 billion this financial year, largely because of the cost of building Legacy Way.
Opposition Leader Milton Dick argued Brisbane's per capita debt was now $1934 per person.
Cr Quirk said the federal government would pay Brisbane City Council $400 million this financial year as part of its Legacy Way contribution.
"At that time, our debt will decline and it will continue to decline," he said.