The special rate variation (SRV) application to IPART was endorsed at an extraordinary meeting on Tuesday, January 28 as advised in last week’s edition of The Free Press/Yarrawonga Chronicle.
The proposed permanent SRV, if approved, would result in average residential rates increasing from $961 in 2024/25 to $1,144 in 2025/26 (an increase of 19% or $183) and $1,279 in 2026/27 (an increase of 11.8% or $135).
IPART will determine the application across the following criterions:
•Demonstrate financial need for additional revenue;
•Provide evidence that the community is aware of the need for and extent of a rate rise;
•Demonstrate a reasonable impact on ratepayers;
•Exhibit relevant council documents to the public; and
•Explain council’s productivity improvements and cost containment strategies.
If approved, the proposed permanent SRV will provide an additional $2.4 million in general rates in 2025/26, increasing total general rates to $15.4 million.
When compared to 2024/25, this is an increase of 19%. This would be followed by an additional $1.8 million in 2026/27, an increase of 11.8%.
Federation Council Mayor Cheryl Cook said the decision made by council to proceed with a Special Rate Variation application was a decision that was not made lightly. In fact numerous deliberations and debate has taken place with the previous and current councillors.
"We understand this is a significant increase, and we want to be as transparent as possible with our community,” she said.
“As discussed in the council meeting, ratepayers have already received over half of this increase across the last two-year period in a temporary capacity, so we are halfway there.
“We have extensively engaged with residents throughout this process, and we believe this application reflects their feedback and the critical needs of our community.”
Mayor Cook said the rate increase is essential for upgrading the council's extensive road network, maintaining essential services, and ensuring the long-term sustainability of Federation Council.
“I sincerely thank the community for their participation and engagement in this process thus far,” she said.
“I am confident that IPART will carefully consider our application based on the evidence presented and the community's needs. Council encourages all residents to review the application and stay engaged.”
The SRV application will be available shortly on the Federation Council website and IPART website. Residents are encouraged to view the application and associated documents.
A public submission opportunity directly to IPART will occur in February, before a final decision will be announced by IPART in May 2025.
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