Green light on rate rises
The State Government has given the green light for Victorian council to increase rates by 1.75 per cent this year.
Councils, including Loddon, have been limited to maximum 1.5 per cent rates rises in recent years under the Fair Go Rates system.
The State Government says the new rate cap of 1.75 per cent has been set for all Victorian councils for the 2022-23 financial year, "to help ease cost of living pressures for Victorians".
The Fair Go Rates system began in 2016 to limit uncontrolled rate hikes and to provide councils with a clear framework to guide their budgeting while ensuring essential services continue to be delivered.
The cap is set each year by the Minister for Local Government with advice from the Essential Services Commission, guided by the Consumer Price Index.
Before the Fair Go Rates system was introduced residents faced an average rate increase of six per cent every year. The current rate cap of 1.5 per cent is the lowest since the system was first introduced.
Loddon Shire will consider its 2022-2023 budget and rate base later this year.