Long term financial sustainability
Ensure that we have sufficient funding to deliver the services you have come to expect and have capacity to respond to unknown shocks, such as natural disasters
To deliver our community’s vision for our beautiful Shire, including securing a positive future for our coming generations that is liveable, sustainable, productive and collaborative, it is essential that we have sound financial foundations and continue to spend only within our means.
A recent review of our Long Term Financial Plan identified, among other high priority actions, a need to consider applying to the NSW Independent Pricing and Regulatory Tribunal (IPART) for a Special Rate Variation (SRV).
An SRV is a common way for local councils to change the rates residents and businesses pay in order to fund future community needs.
Rates
would rise by 8.5% in 2023/24, 7.5% in 2024/25, 6.5% in 2025/26 and 5.5% in
2026/27, which represents an increase of 31.05% (cumulative) staged over
four years, including the annual rate peg set by IPART.
We are consulting you, the community, about this rise in rates which will allow us to maintain the high levels of service that you
have come to expect and resource projects to address what you have told us are your long-term priorities.
Ensure that we have sufficient funding to deliver the services you have come to expect and have capacity to respond to unknown shocks, such as natural disasters
Ensure we maintain our buildings, open spaces, roads and drainage at a standard which meets the needs of our community
$17,982,370
$6,035,096
$30,807,000
$1,000,000
$10,283,419
$1,150,000
IPART determines a percentage by which councils can increase their rates each year. This is known as a ‘rate peg’. Our forecasted calculations show that even with this annual rate peg increase, it will not be sufficient to achieve our collective objectives.
We are looking to apply for an increase of 28 percent staged over four years (31.05% cumulative) – including the forecasted rate peg – as follows:
For residents currently paying our average rate, this would mean an increase of $2.07 a week in the first year. For business ratepayers, the weekly increase on the average rate would be $3.97 in the first year.
The table below gives an indication of the average annual rates likely to be experienced by residential and business ratepayers with and without the SRV.
Residents in the Hornsby Shire local government area traditionally pay lower rates than the average rates of other councils in the Northern Sydney region and than NSW councils in the same category as ours.
Thank you for your input. The feedback period closed on Tuesday, 8 November 2022.
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Council recognises the Traditional Owners of the lands of Hornsby Shire, the Dharug and GuriNgai peoples, and pays respect to their Ancestors and Elders past and present and to their Heritage.
We acknowledge and uphold their intrinsic connections and continuing relationships to Country.
If you are deaf, hard of hearing or have difficulty speaking or communicating, contact us through the National Relay Service.
Free Interpreting Services - Call the Translation and Interpreting Service (TIS) on 131 450 and ask them to contact the Council on 9847 6666, Monday to Friday, 9am-5pm.
Have questions or want to learn more about a project, contact us below:
Phone | 02 9847 6666 |
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hsc@hornsby.nsw.gov.au | |
Website | www.hornsby.nsw.gov.au |
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