Council retains its ‘low rates track record’

Published on 14 June 2022

Gold Coast Business Portal

The 2022-23 City Budget has been handed down with the average residential rate increase for owner-occupied properties again under the Consumer Price Index (CPI).

In 2022-23, it is 4.3 percent which equates to around $3.11 a week.

“This is the 11th consecutive year where our council has kept the average rate increase at, or around, CPI,’’ said Gold Coast Mayor Tom Tate.

“Shaping this budget was the toughest in my 10 years as mayor. Like small businesses and families, our City budget has been impacted by rising costs in materials and supply shortages.

“Set against this backdrop, all councillors have worked tirelessly to find the savings needed to keep our average rate increase below CPI.

“The last decade has seen CPI nationally remain low and we have pegged our annual rate increase accordingly. In 2022-23, CPI has spiked but we remain below CPI and that is positive news.

“We owe it to the small business community and every ratepayer to continue to deliver the services they expect, at a price they can afford.

“Our focus in 2022-23 will be on frontline services including improving the safety of our community and delivering greater sustainability in all our programs and projects.’’

Water services and charges will rise by 3 percent (for an average household using 180kl/annum).

Key initiatives adopted by council for 2022-23 include:

  • Palm Beach Aquatic Centre - $21 million allocation in 2022-23 budget ($70 million overall project);
  • Cash contribution towards Light Rail Stage 3 - $10 million;
  • Major EventsGC - $11.9 million; DestinationGC - $16.5 million; StudyGC $3 million.

The 2022-23 City Budget is $1.7 billion with at least $400 million expected to be spent through local businesses, via our City Procurement Policy.

“Spending local is about creating jobs. I want to see as many Gold Coasters as possible employed and enjoying the lifestyle that is the envy of every other city in Australia,’’ he said.

The City’s debt will be $697 million in 2022-23, still $111 million below its peak of $808 million in July 2012.