RATEPAYERS HIT WITH 3.5% RISE
Budget to deliver $735,000 surplus
THE average ratepayer can expect to cough up an extra $105 in rates and charges in the new financial year, after Toowoomba Regional Council down its 2018/19 budget yesterday.
Mayor Paul Antonio described the 3% general rate rise as “measured and responsible”, with the net overall increase in rates and charges averaging out at 3.49% for urban homeowners. The $491 million budget is ex-handed pected to bring in an operating surplus of $735,000.
THE average ratepayer can expect to be out of pocket an additional $105 a year, post-discount, off the back of a 3.49% average rise in rates and charges delivered in yesterday’s Toowoomba Regional Council budget.
Mayor Paul Antonio described the rate rise as “measured and responsible”, noting that “disciplined planning has allowed council to deliver the same average general rate increase for the fourth year in a row”.
On a broader scale, total revenue raised from rates, levies and charges is expected to rise $12 million year on year.
The $491 million budget will see $316 million dedicated to operational expenditure for the delivery of services to ratepayers, and $175.13 million invested in capital infrastructure.
Of that capital investment, $71 million will go to infrastructure renewal programs.
Almost $60 million has been set aside for upgrade projects, and $44 million has been allocated for new works across the region.
By the end of the 2018/19 fi-
nancial year, the council is hoping to deliver an operating surplus of $735,000 and maintain its Queensland Treasury Corporation rating as “sound with a neutral outlook”.
Breaking down the major areas of capital expenditure, Cr Antonio said $61.24m would be spent on roads, footpaths and bikeways, while $17.8m will be injected into water projects.
A further $10.58 million will be tunnelled into wastewater projects, and $11.62 million set aside for waste services.
Parks and recreation projects will receive $14.17m, community services and facilities will have a $41.32 million budget, and the remaining $18.4 million is reserved for business strategy and operations.