Lockyer Valley council endorses $115m budget for 2024-25 with $32m capital works budget, 3.9 per cent rate rise
Residents in the Lockyer Valley will see a huge investment in roads but cop a 3.9 per cent rate rise in the council’s debt-free 2024-25 budget. Details here.
Gatton
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Lockyer Valley residents have been hit with a rate rise but will see tens of millions spent on the region’s road network as part a budget the new deputy mayor has called the “most significant” in some years.
Newly re-elected mayor Tanya Milligan handed down the $115m budget at last week’s special meeting of council in Gatton, which includes a capital works budget of $32m.
More than a third of the budget (nearly $45m) will be spent on either upgrading or maintaining the council’s vast local roads network, which was an overwhelming issue for residents at the March election.
Major new projects include $3.6m for the upgrade of Postmans Ridge Road at Helidon Spa, $6.7m towards the new Mahon Bridge at Carpendale and more than $2m for the Silos Mural Precinct at Forest Hill (which factors in a potential $1.8m government grant).
To pay for it, locals have been dealt a rate rise of 3.9 per cent, which will deliver nearly $48m in revenue for the council by June 2025.
Fees and charges will increase by an average of five per cent, with the LVRC on track for a surplus of $96,000.
Ms Milligan said the rate rise was below inflation, which she said reflected the current cost-of-living pressures for many residents.
“The very small surplus reflects council’s efforts to keep the budget as tight as possible in these tough economic times, which are having a notable impact on households across our region,” she said in a statement.
“As mayor, I am proud to say that council has demonstrated its financial management track record by consistently operating within its budget and keeping rate increases low, an example being over the past four years our rate increase has averaged 3.2 per cent, which is well below the CPI of 5.12 per cent.
“Moreover, over the past 10 years the average rate increase sits at just 2.69 per cent – consistent with CPI.”
Deputy mayor and finance portfolio leader Chris Wilson said the completion of recovery works from the 2022 February flood event would allow a debt-free council to move ahead with key projects.
“Roads is always a big focus, but now we’ve got our flood recovery works out of the way, we can focus on upgrades and renewals,” he said.
“It’s certainly not a record, but it’s the most significant (capital works budget) for a long time and we’ve been pretty good at achieving the bulk of our capital budget in recent years.
It’s the first major decision since March, which saw David Neuendorf, Anthony Wilson, Cheryl Steinhardt and Julie Reck elected as new councillors.
“It has a real feel that this is a more normal budget, and it’s a good budget for the majority of new councillors to see,” Mr Wilson said.
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