The City has responded to ongoing cost-of-living pressures by keeping the 2024-25 annual rates increase below the annual Consumer Price Index (CPI).
“We have gone through the budget thoroughly to find savings and efficiencies right across our $2.5 billion City Budget,” said Mayor Tom Tate.
“Just like the family budget, Council’s costs across the board have also risen substantially. We need to ensure that we deliver the first-class services and infrastructure the city needs, but at a price ratepayers can afford.
“Since 2012, every annual rate increase (principal-place-of-residence) has been at, or below, CPI and this year we have delivered a rate increase of 4.24 percent, below the annual CPI of 4.8 percent).
“I applaud councillors including new councillors, and the reformed administration, for their hard work in shaping our 2024-25 City Budget so we can continue to deliver value-for-money across all of our programs and services.”
Mayor Tate said debt reduction continues to be a key budget focus. “In 2024-25, our debt will be around $520 million, $340 million less than it was in 2012. This puts us in a sound financial position to weather future global economic headwinds.”
CORE SERVICES AND OVERALL INVESTMENT HIGHLIGHTS
- Providing safe and reliable drinking water – $321 million
- Waste collection and disposal services – $151 million
- Safe and reliable sewerage services – $231million
- Transport and infrastructure – $449 million
- Lifestyle and Community – $172 million
- Green space and environment – $294 million
- Business and economy – $148 million
