Moving to this estate? You may have to pay higher rates
Residents hoping to move into the new Kings Forest housing estate in the Tweed Shire face increased rates if an application to the Independent Pricing and Regulatory Tribunal is approved.
Eight councils across NSW, including Tweed Shire Council, have applied to IPART for a special variation to increase their income from rates above the rate peg in 2021‑22.
Tweed Shire Council has applied for an increase of 4.35 per cent over a single year, to be retained permanently in the rate base, indicating funds raised by the Special Rate Variation would be used solely for the ongoing management of environmental protection lands associated with the development - a condition of the development approval.
IPART has set the rate peg for 2021-22 at 2.0 per cent.
The rate peg is the maximum percentage amount by which a council can increase its income from rates.
Councils requiring additional revenue are able to apply to IPART for increases above the rate peg, known as special variations.
They are also able to apply to change the level of the minimum rate that they charge.
IPART assesses applications against criteria established by the NSW Office of Local Government.
IPART Tribunal member, Ms Cope, said IPART will determine all applications by mid May.
"Councils are required to demonstrate the need for the additional revenue, evidence of community consultation and an assessment of the impact on affected ratepayers," she said.
"Community members can continue to make submissions directly to IPART until March 7 and we will consider these submissions as part of our determination."
Details about each council's proposal can be found on the IPART website.
The IPART website also has details about the assessment criteria for special variation and minimum rate applications, as well as instructions on how to lodge a submission.