Understanding Your Rates Notice: A Guide

Rates Notice

THERE’S a sad day each year when home owners are delivered what might be their most misunderstood bill – the council rates notice.

Council rates are calculated using your property’s valuation and a rate in the dollar your council has budgeted as your contribution. Statewide (Victoria), the average rates bill for all properties -residential, commercial, industrial or farming – was $1135 two years ago.

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ALP Backflips on Controversial Growth Areas Tax

Justin MaddenTHE LABOR Party has buckled to mounting voter and media pressure, related to a perceived unfair tax imposed on homeowners in Melbourne’s growth areas.

Footballer turned Labor Party Planning Minister Justin Madden had previously expected land owners in some Melbourne areas to pay a $95,000 per hectare tax, which would pay for things such as infrastructure and roads, and attract more development (or developers).

It’s been argued the government, or major developers which will benefit from from the investment, should flip the expected $11 billion bill – rather than profit from it.

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