Rates rise held to only 2.5pc
RATES will increase by 2.5 per cent, $ 11.1 million will be spent on capital and strategic projects and up to $ 20 million will be saved across Hinchinbrook this financial year, in a bid to kickstart the economy.
The announcements came as part of the $ 33.144 million 2015- 16 Budget handed down by the Hinchinbrook Shire Council yesterday.
The general rate increase was halved from the 5 per cent originally set out in the council’s adopted long- term financial forecast.
Mayor Rodger Bow said residents would also face a 3.1 per cent increase across utilities such as sewerage, water and cleaning charges.
“To achieve 2.5 per cent was a major challenge ... and in essence the operating expenditure will be less than last year’s budget,” Cr Bow said.
“Taking into account the consumer price index, council is effectively applying an operating savings of over $ 500,000.”