Under the Increase Services option, from 1 July 2024, rates will increase by 15% (including via a Special Rate Variation application to the NSW Government).
In addition to the benefits gained under Option 2 (Maintain Services), under the Increase Services option Council will also be able to set aside an additional $2m a year for improved public area maintenance.
This funding will allow Council to invest in additional cleaning, care and beautification projects in parks, cycling and walking routes and town centres, making our much-loved outdoor areas more attractive to use and enjoy.
It will also allow Council to invest in additional planning programs to support Willoughby's urban tree canopy.
At the same time as seeking this rate rise, and to reduce impacts on ratepayers, the Council will also commit to find $1m worth of cost-cutting and $1m worth of new revenue sources in 2024/25. Without these commitments, the rate increase could be 3.7% higher.
Average rate changes in 2024/25 under the Increase Services option
Residential
Business (General)
Business (CBD)
Yearly
Weekly
Yearly
Weekly
Yearly
Weekly
Existing average rate in 2023/24
$1,088
$20.92
$6,524
$125.46
$7,803
$150.05
Increase due to rate peg (estimated 3.5%)
$38
$0.73
$228
$4.38
$273
$5.25
Increase due to SRV (estimated 11.5%)
$125
$2.40
$750
$14.42
$897
$17.25
Total average rate increase under 15% rate rise
$163
$3.13
$979
$18.82
$1,170
$22.50
Average rate in 2024/25
$1,251
$24.1
$7,503
$144.3
$8,973
$172.6
The above table shows proposed rate changes in 2024/25, which would be built into the rate base and therefore stay in place permanently and increase in subsequent years in line with the NSW Government rate peg only.
Operating Results in future years under the Increase Services option
Under the Increase Services option, the Council will be able to generate surpluses averaging $4.77m in the nine years to 2032/33 (total $43m over nine years), which is slightly lower than the Maintain Services option.
This will allow Council to withstand future financial shocks and, if these shocks do not eventuate, instead use these surpluses for community services and projects, alongside with a dedicated additional $2m a year for public area maintenance.Advantages and disadvantages of this option
The table below outlines the perceived advantages and disadvantages of the Increase Services option.
Advantages
Disadvantages
Catch-up from 12.1% inflation increase losses over the last two years
Continue to deliver highly valued services to the community
Delivers surpluses in all nine years between 2024/25 and 2032/33, with an average annual surplus of $4.77m. These surpluses, subject to future financial shocks, could be re-invested in community services and projects
Increase responsiveness to resident and business enquiries
Increase Council’s ability to absorb future financial, extreme weather and growth shocks
Provide capacity to maintain and renew community assets
Provide a stable work environment for staff attraction and retention
Allocate an additional $2 million a year to allow Council to invest in additional cleaning, care and beautification projects in parks, cycling and walking routes and town centres, and planting programs to boost Council's urban tree canopy.
Rates will increase at a level higher than the NSW Government rate peg.
Under the Increase Services option, from 1 July 2024, rates will increase by 15% (including via a Special Rate Variation application to the NSW Government).
In addition to the benefits gained under Option 2 (Maintain Services), under the Increase Services option Council will also be able to set aside an additional $2m a year for improved public area maintenance.
This funding will allow Council to invest in additional cleaning, care and beautification projects in parks, cycling and walking routes and town centres, making our much-loved outdoor areas more attractive to use and enjoy.
It will also allow Council to invest in additional planning programs to support Willoughby's urban tree canopy.
At the same time as seeking this rate rise, and to reduce impacts on ratepayers, the Council will also commit to find $1m worth of cost-cutting and $1m worth of new revenue sources in 2024/25. Without these commitments, the rate increase could be 3.7% higher.
Average rate changes in 2024/25 under the Increase Services option
Residential
Business (General)
Business (CBD)
Yearly
Weekly
Yearly
Weekly
Yearly
Weekly
Existing average rate in 2023/24
$1,088
$20.92
$6,524
$125.46
$7,803
$150.05
Increase due to rate peg (estimated 3.5%)
$38
$0.73
$228
$4.38
$273
$5.25
Increase due to SRV (estimated 11.5%)
$125
$2.40
$750
$14.42
$897
$17.25
Total average rate increase under 15% rate rise
$163
$3.13
$979
$18.82
$1,170
$22.50
Average rate in 2024/25
$1,251
$24.1
$7,503
$144.3
$8,973
$172.6
The above table shows proposed rate changes in 2024/25, which would be built into the rate base and therefore stay in place permanently and increase in subsequent years in line with the NSW Government rate peg only.
Operating Results in future years under the Increase Services option
Under the Increase Services option, the Council will be able to generate surpluses averaging $4.77m in the nine years to 2032/33 (total $43m over nine years), which is slightly lower than the Maintain Services option.
This will allow Council to withstand future financial shocks and, if these shocks do not eventuate, instead use these surpluses for community services and projects, alongside with a dedicated additional $2m a year for public area maintenance.Advantages and disadvantages of this option
The table below outlines the perceived advantages and disadvantages of the Increase Services option.
Advantages
Disadvantages
Catch-up from 12.1% inflation increase losses over the last two years
Continue to deliver highly valued services to the community
Delivers surpluses in all nine years between 2024/25 and 2032/33, with an average annual surplus of $4.77m. These surpluses, subject to future financial shocks, could be re-invested in community services and projects
Increase responsiveness to resident and business enquiries
Increase Council’s ability to absorb future financial, extreme weather and growth shocks
Provide capacity to maintain and renew community assets
Provide a stable work environment for staff attraction and retention
Allocate an additional $2 million a year to allow Council to invest in additional cleaning, care and beautification projects in parks, cycling and walking routes and town centres, and planting programs to boost Council's urban tree canopy.
Rates will increase at a level higher than the NSW Government rate peg.
Page last updated: 23 Sep 2023, 08:11 PM
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Advantages and disadvantages of this option