Ryde Council rates set to jump again due to special rate variation

HOMEOWNERS in Ryde are set for another jolt from their rates notice as the effects of a special increase awarded last year continue.

HOMEOWNERS in Ryde are set for another jolt from their rates notice as the effects of a special increase awarded last year continue.

Ryde Council’s draft budget for next financial year shows rates are set to rise by seven per cent – the second of four consecutive increases by this percentage under a special rate variation.

A property worth $541,000 can expect to pay $946, $68 more than the previous financial year.

Ryde officials last year successfully applied to the Independent Pricing And Regulatory Tribunal to increase rates above the standard 1.8 per cent.

Australian currency. Picture: Thinkstock

The council said it required the increase to clear an infrastructure backlog and ensure it could maintain services.

Draft budget papers said the rates increase would generate $5.15 million. This would be used for asset infrastructure and renewal.

Most fees and charges will increase by 1.7 per cent. This could include entry to Ryde Aquatic Leisure Centre, hall hire and development application fees.

The council has projected a surplus of $2.6 million, an increase on the $2.4 million of the previous budget.

The draft budget is due for public exhibition from May 4 to June 14 and councillors are due to discuss it at a meeting on June 21.