City of Casey has identified a minor miscalculation of council rates for 2018/19 and is now taking the necessary steps to correct the issue and ensure compliance with the state-wide 2.25 per cent rate cap.
At its meeting on Tuesday 20 November, council resolved to slightly reduce the Capital Improved Value (CIV) rate in the dollar that was adopted in the 2018/19 Budget to rectify an issue, which will result in an average $0.22 reduction of Council rates per property.
When preparing the required Annual Compliance Information for the Essential Services Commission (ESC), Council identified that there had been an unintended miscalculation and the overall general rates had increased by about $27,000 more than they should have, which works out to be an average of $0.22 per property.
This meant that council’s final general rate increase was calculated to be 2.26 per cent, slightly above the 2.25 per cent State Government imposed rate cap.
After communication with the ESC, council has adopted a slightly reduced CIV rate in the dollar for the 2018/19 financial year and will now begin to credit ratepayers their required amount, which works out to be an average $0.22 per property but will vary based on the individual CIV valuation of each property.
A credit will be applied to about 85-90 per cent of rates bills for the 2018/19 financial year for those with upcoming payments due, with those who have already paid in full to receive a credit on their 2019/20 rates notice.
Council has identified two causes for the miscalculation, both related to the finalisation of the 2018 General Revaluation in late May 2018 after council’s Draft 2018/19 Budget had been prepared.
