CITY of Stirling ratepayers will receive a 1.75 per cent rate rise this year, in a move the mayor says is “prudent”.
Last year rates rose 1.75 per cent and will do so again this year, bringing the City’s average rate to 4.9c in the dollar from around 4.64c.
Mayor Giovanni Italiano said the City’s prudent financial management had resulted in a balanced budget with one of the lowest rates increases in the metropolitan area.
About $64 million of the $284 million budget, which was passed at Tuesday’s council meeting, will go towards new capital works projects.
Almost $26 million will be spent on roads, paths, drains and parking infrastructure with another $8.4 million on new works at parks and reserves.
A further $12.9 million will be spent on improving the City’s buildings.
Major projects in the capital works budget include $1.4 million on the Scarborough Redevelopment project working with the Metropolitan Redevelopment Authority including $4.9 million on the City’s Scarborough Beach Pool.
The Ellen Stirling Boulevard development and carpark project will get $5.1 million.
Mayor Italiano said it was a balanced budget and the City remained debt free.
Late rates payments will attract interest of 9 per cent per year, with incentives offered for early rate payments.
The City will raise a predicted $135.3 million from rates in the next financial year, up from last year’s $130.9 million.
Employee costs are up from last financial year by $3.2 million bringing budgeted amount to $78.1 million.