• Bayside News Home
  • News
  • Sport
  • Entertainment
  • Local History
  • Contact Us
  • Advertise With Us
  • About Us
  • Read Our Newspapers Online
    • Read the Latest Western Port News
    • Read the Latest Mornington News
    • Read the Latest Southern Peninsula News
    • Read the Latest Frankston Times
    • Read the Latest Chelsea Mordialloc Mentone News
Facebook Twitter Instagram
Thursday, May 19
Trending
  • Voting gets underway
  • SES history maker ‘proud’ to join the team
  • Mordialloc pool plans moving forward
  • Win drought ends for Langy
  • Brown has another talented stayer on his hands
  • Pythons win a close one, Kangaroos clear on top
  • An update on activities in Balnarring
  • Burglar wanted
Facebook Twitter
Bayside News
  • Home
  • News
  • Sport
  • Entertainment
  • Local History
  • Contact Us
  • Advertise With Us
  • About Us
Bayside News
Home»Council Watch»Higher house prices blamed for rate rise
Council Watch

Higher house prices blamed for rate rise

Bayside NewsBy Bayside News9 May 2022Updated:11 May 2022No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

THE “significant” rise in value of Frankston homes is the reason that residential ratepayers could be slugged with a rate rise, the Frankston mayor says.

The Frankston Council budget currently out for consultation reveals that residential rates are expected to increase by around 3.9 per cent on average in the next financial year, while commercial property rates will decrease by around 8.5 per cent.

Frankston mayor Nathan Conroy said that a recent independent re-evaluation of Frankston properties had found that residential sites have increased in value by 26.01 per cent, meaning some residential ratepayers will have to pay more.

“Overall, property valuations across the municipality have increased by 24.30 per cent. Residential properties have increased by 26.01 per cent, whereas commercial properties have increased by 6.98 per cent.  The reason why commercial properties will receive a rate reduction is because their overall valuation increase was lower than the municipal average,” Conroy said.

“The annual revaluation may have an effect on the overall percentage increase experienced by individual property owners. In some cases, ratepayers will find that their rates bill has changed by more or less than the current rate cap from the previous year. The reason this may occur is due to the valuation of the property increasing greater than the overall municipal average. Overall rates will increase on average by the state government rate cap of 1.75 per cent.

“Many municipalities across the state have seen significant rises in property values, including Frankston City. Valuations do not change the level of rate income; however determine the allocation of the rate income pie among ratepayer classes.”

A proposal to cut rates by five per cent was debated by Frankston councillors in April, but was ultimately voted down (“Rate cut for residents rejected” The Times 12/4/22).

First published in the Frankston Times – 10 May 2022

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Bayside News

Related Posts

Finding waste solutions

23 March 2022

Frankston fosters Fijian friendship

28 February 2022

Volunteers wanted for business chamber board

21 February 2022

Leave A Reply Cancel Reply

May 19, 2022 - Thu
Chelsea, Australia
13°C
6 km/h, W
67%
775.57 mmHg
thu05/19 fri05/20 sat05/21 sun05/22 mon05/23
14/13°C
15/10°C
13/11°C
13/10°C
14/11°C
Peninsula Essence Magazine

Click Here to Read

27 April 2022
Peninsula Kids Magazine

Click Here to Read

2 March 2022
Council Watch

Higher house prices blamed for rate rise

9 May 2022

Finding waste solutions

23 March 2022
Elections 2022

Voting gets underway

18 May 2022

Ex-mayor nominates

16 May 2022

Candidates make final pitch for votes

16 May 2022
Interviews

Book encourages greyhound adoption

27 April 2022
Property of the Week

33 Gould Street, Frankston

20 April 2022
100 Years Ago this Week

An update on activities in Balnarring

17 May 2022
Contact

Street: 63 Watt Road, Mornington, 3931
Mailing: PO Box 588, Hastings, 3915

Menu
  • Home
  • News
  • Sport
  • Entertainment
  • Local History
  • Contact Us
  • Advertise With Us
  • About Us
About

Established in 2006, Mornington Peninsula News Group (MPNG) is a locally owned and operated, independent media company.

MPNG publishes five weekly community newspapers: the Western Port News, Mornington News, Southern Peninsula News, Frankston Times and Chelsea Mordialloc Mentone News.

MPNG also publishes two glossy magazines: Peninsula Essence and Peninsula Kids.

Facebook Twitter
© 2022 Mornington Peninsula News Group.

Type above and press Enter to search. Press Esc to cancel.