Special Rate Variation approved

Tuesday 14 May, 2024

Today’s Independent Pricing and Regulatory Tribunal (IPART) announcement approving Tamworth Regional Council’s Special Rate Variation has been welcomed by Tamworth Regional Council General Manager Paul Bennett.

The Council’s application for a permanent Special Rate Variation of 36.3% over two years has been approved. It comprises a variation of 18.5 per cent from July 1, 2024-25 (including the set rate peg of 4.9%) and 15% in 2025-26 (including the forecast 2.5% rate peg).

“The decision means the IPART found our application was sound - we had met their requirements to inform our community about the need to increase our rates above the rate peg so we can continue be financially sustainable while also showing that the impact of the requested rate rise is reasonable for our ratepayers,” he said.

In June, Councillors will consider whether or not to implement the increase to take effect from 1 July 2024. More information about Council’s application is at www.haveyoursay.tamworth.nsw.gov.au/srv