The City is now inviting submissions from the community after the Council endorsed the proposed rating model for the 2024/25 financial year.
The proposed model will result in a 3.5 per cent increase to the rate in the dollar, or roughly $1.63 a week for residential ratepayers.
The proposed increase is inline with the Consumer Price Index of 3.6 per cent and increasing costs to the City including insurance premiums rising by 10.9 per cent. Â
The proposed model would generate approximately $57 million in rates in the 2024/25 financial year, making up 38% of the City’s total funding.Â
Other sources of income like property investments, grants, and fees and charges provide positive alternative revenue sources that reduce reliance on rates meaning residents are not hit as hard by rising costs to the City.Â
City of Karratha Mayor Dan Scott said the City was faced with increasing costs to deliver services.
“We are aware of the rising cost of living impacting residents, however these costs have also impacted the City,” Cr Scott said.
“Our proposed rates model is in line with the inflation rate and is equivalent to $1.63 a week for residential ratepayers.
“This proposed model is now open for public comment, and we appreciate your feedback that will be used to help inform the final rates model.”
Mayor Scott said the proposed rates model meets the anticipated revenue requirements of the 2024/25 Budget.
“Council has worked hard to reduce its reliance on rates, with most of its revenue sourced from government grants, the private sector, investments, and fees and charges,” Cr Scott said.
“Our investment in The Quarter is one of the ways we are able to reduce our reliance on rates, with the profit from The Quarter reducing the required rate increase by 3.75%.
“This will allow us to provide ongoing upgrades and renewal of facilities, meet community demands, maintain service levels and support for development within our region.”
The rating model will now be advertised to seek feedback from rate payers.
Â