City budget focuses on continuing to protect our lifestyle

Published on 07 June 2024

Annual rates increase below CPI

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

For more information visit www.cityofgoldcoast.com.au/annualplan