Commercial rates - Proposed Budget 2020-21

Tuesday, 5 May 2020

The following comments are attributed to Director Customer and Corporate Services Michael Dugina:

I am wondering if the draft budget has set the commercial rate. Can you please tell me what is, how much it has gone up, what it is expected to raise and provide a comparison to previous years?

Commercial rates will raise $33.4m in 2020-21 - up $2.43m from the previous year. The general rate for rateable commercial properties in the Proposed Budget 2020-21 is 0.00531168 cents / $CIV. That is a change of 1.6 per cent from 2019-20.
We have budgeted for 5977 commercial assessments in 2020-21, which share an estimated total land value of $6,288,969,000. The estimated total land value has increased 5.3 per cent.

Can you provide some commentary on determining the commercial rate for 2020-21?

The draft rating strategy for the 2020-21 budget has considered the draft 2020 valuations and the rate cap as set by the Victorian Government.

The City has also continued on its rating strategy to bring closer the industrial and commercial rates. The City has removed the flat fee municipal charge, which has been absorbed in the rate in the dollar calculation, providing a benefit to approximately 61 per cent of our property owners.

Page last updated: Tuesday, 5 May 2020