Council Proposes a 3-Year Program to Rebalance the Rating Structure to Improve Fairness & Equity
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Submissions are now closed
Currently, compared to similar sized councils across NSW, Leeton Shire farmland average rates are higher than the NSW average and business average rates are significantly lower than the NSW average. While Leeton’s residential average rates are slightly higher than the NSW average, Council does not intend to adjust these as residential ratepayers benefit the most overall (being 75% of the ratepayers who pay 52% of the rates).
To rebalance the proportion of rates paid by farmland and business ratepayers, Council is proposing a three-year program from the 2024/25 financial year to redistribute the rate peg from farmland onto business and to introduce two new rating sub-categories called “Business Industrial – Leeton” and “Business Industrial – Whitton”.
The rebalanced rating structure is proposed to create a fairer and more equitable distribution between the rating categories – it does NOT increase the amount of rates Council may collect in total (beyond the annual rate peg).
◀ ▶Residential Rate Category
Will see no change to the proportion of rates paid overall;
The annual rate peg increase by IPART will apply for all three years
▼ Farmland Rate Category
Will see a reduction in the proportion of rates paid overall, from 39.37% in 2023/24 to an estimated 36.21% in 2026/27;
The annual rate peg increase by IPART will not apply for three years, effectively a rate peg ‘holiday’
▲ Business General Rate Category
Will see an increase in the proportion of rates paid overall, from 8.47% in 2023/24 to an estimated 11.63% in 2026/27;
There will be two new sub-categories of business rate introduced, called “Business Industrial - Leeton” and “Business Industrial - Whitton”
For three years, both the usual rate peg plus the farmland equivalent rate peg will be absorbed by businesses, split 25/75 between general and industrial businesses
From Year 4, all rating categories will go back to “normal”, having the same IPART rate peg applied.
Council is very interested to hear your feedback. As the proposed changes won’t impact residential ratepayers and aim to benefit farmland, Council is particularly seeking feedback from Leeton Shire businesses. Please complete the survey at the bottom of this page.
⏰ Submissions must be received by Council by 5pm on Monday, 27 November 2023.
Currently, compared to similar sized councils across NSW, Leeton Shire farmland average rates are higher than the NSW average and business average rates are significantly lower than the NSW average. While Leeton’s residential average rates are slightly higher than the NSW average, Council does not intend to adjust these as residential ratepayers benefit the most overall (being 75% of the ratepayers who pay 52% of the rates).
To rebalance the proportion of rates paid by farmland and business ratepayers, Council is proposing a three-year program from the 2024/25 financial year to redistribute the rate peg from farmland onto business and to introduce two new rating sub-categories called “Business Industrial – Leeton” and “Business Industrial – Whitton”.
The rebalanced rating structure is proposed to create a fairer and more equitable distribution between the rating categories – it does NOT increase the amount of rates Council may collect in total (beyond the annual rate peg).
◀ ▶Residential Rate Category
Will see no change to the proportion of rates paid overall;
The annual rate peg increase by IPART will apply for all three years
▼ Farmland Rate Category
Will see a reduction in the proportion of rates paid overall, from 39.37% in 2023/24 to an estimated 36.21% in 2026/27;
The annual rate peg increase by IPART will not apply for three years, effectively a rate peg ‘holiday’
▲ Business General Rate Category
Will see an increase in the proportion of rates paid overall, from 8.47% in 2023/24 to an estimated 11.63% in 2026/27;
There will be two new sub-categories of business rate introduced, called “Business Industrial - Leeton” and “Business Industrial - Whitton”
For three years, both the usual rate peg plus the farmland equivalent rate peg will be absorbed by businesses, split 25/75 between general and industrial businesses
From Year 4, all rating categories will go back to “normal”, having the same IPART rate peg applied.
Council is very interested to hear your feedback. As the proposed changes won’t impact residential ratepayers and aim to benefit farmland, Council is particularly seeking feedback from Leeton Shire businesses. Please complete the survey at the bottom of this page.
⏰ Submissions must be received by Council by 5pm on Monday, 27 November 2023.
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