IPART have announced massive increases in Council rates (over 50% for some Councils). You may recall that Willoughby Council was intending to seek a large rate increase but this was withdrawn after the passing of Emeritus Mayor Reilly and the subsequent Mayoral election. So this year we will have the ‘rate-pegged’ increase around 2.3%.
Why will Council need to increase its rates? The main reason is that for the past 30 years rates have artificially been kept excessively low. So Councils are now having to play ‘catch up’.
Will Willoughby Council in future years seek an increase above the ‘pegged’ rate? Highly likely.