IPART should decline additional seven-year increase
As a Central Coast house owner and rate payer, I am opposed to Council's application to maintain rates at the current IPART-approved increased levels for an additional seven years, ie 10 years in total to 2031.
Council rates are costed on property land valuations determined by the Valuer General every few years.
The next Valuer-General valuations are due in 2022 or 2023.
It is obvious land values will skyrocket from the next Valuer-General valuations due to recent years of soaring prices of house and land sales.
Surely, this will mean Council will gain major rate income from the upcoming increased Valuer-General valuations which will pay for the financial mess amalgamation of the two Councils has created.
IPART should decline the additional seven years' increase in rates as proposed over and above the current increase over three years as approved by IPART.
The increase in revenue gained by Council by the upcoming land revaluations over the seven-year period in question will certainly negate any argument for any additional seven-year rate hike.
SOURCE:
Email, 1 Mar 2022
Peter Johnson, Booker Bay