North Sydney facing massive rates increase to cover pool costs

North Sydney residents face rate hikes of more than 100 per cent in a bid to pay off $51 million in loans taken out by their council to fix the local pool.

Construction work on the North Sydney Olympic Pool. Picture: John Appleyard

North Sydney residents face rate hikes of more than 100 per cent in a bid to pay off $51 million in loans taken out by their council to fix the local pool.

North Sydney Council will vote this month on whether to increase rates, choosing between four options – the lowest being a 65 per cent cumulative rise over three years. The highest option would see rates spike by a ridiculous 111 per cent.

The special rate variation would fix the council’s current financial position, which it ­described as “very weak” and “unsustainable”.

“Existing revenue is insufficient to cover current service levels, loan repayments, asset maintenance backlogs, infrastructure renewals, upgrades and the developments of new assets to meet the demand of a growing and evolving population,” read documents.

If approved, the rate rise will help pay off the failed North Sydney Pool redevelopment, which blew out dramatically and is now expected to cost at least $90 million.

Council has sought feedback from residents on four options. At its November 25 meeting, council voted 7-2 to proceed with the community consultation, which ran from November 27 to January 10.

The feedback will be ­considered at a meeting on February 10, when the council will vote on whether to apply to the Independent Pricing and Regulatory Tribunal (IPART) in its annual 2025-26 special variations process.

It comes days after Northern Beaches council voted on Tuesday night to move ahead with a whopping 39.6 per cent rate rise over three years.

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