A report tabled at last Tuesday’s city council meeting said proposed differential rates, minimum payments and interest charges, together with interim rates due to growth, were expected to yield a total rate revenue of about $90 million in 2013-14.
Three per cent of the rates would be added to the City’s $4.8 million assets infrastructure reserve, which is used to modernise existing assets.
Rate revenue remains the single largest source of revenue for the city, accounting for about 69 per cent of operating revenue in the 2013-14 draft budget.
The City report said the region had experienced considerable growth over the past few years.
It said while the pace of growth slowed in 2012-13, there had been an increase in the number of developments in Ellenbrook, Aveley, Caversham, Brabham and Dayton. Factors considered in determining the rate increase included $10.6 million in additional expenditure in the City’s capital works program.
Public submissions on the rate hike proposal will be considered before the budget is finalised.