Special Rate Variation

SRV Announcement

  • From 1 July 2022 Council will implement a special rate variation for the Snowy Valleys Council Local Government Area.
  • IPART approved a new and permanent Special Rate Variation of 35.95% (inclusive of the rate peg) introduced over two years in 2022-23 and 2023-24.
  • At the June 2022 Council Meeting, Council resolved to increase rating income for 2022-23 by 15.7%.
  • The increase is applied to only the ordinary rate item on your rates notice and does not apply to waste management or sewer charges that may also be on your rates notice. In making the rates and annual charges for 2022-23 Council is required to apply the NSW Valuer General’s land values as at 1 July 2019.
  • The rates calculator can estimate the change to rates for individual properties using the assessment number provided on rate notices. Rates Calculator link
  • The increased rating level at the completion of 2023-24 will then remain permanently and be the amount subject to any future increases.
  • The approved purpose of the SRV is to:
  • Continue delivering existing service levels, as outlined in the 2022-23 Delivery Program and Operational Plan
  • Manage a range of financial impacts (e.g. maintenance of grant-funded new assets and natural disasters)
  • Ensure long-term financial sustainability

SRV Timeline

  • July to September 2021 - Council undertook community consultation and received feedback from the community regarding the potential introduction of a Special Rate Variation (SRV).
  • October 2021 - Council reviewed the community feedback and budget and financial forecast advice from Morrison Low and resolved to lodge a Notice of Intent to Apply for a Special Rate Variation with the Independent Pricing and Regulatory Tribunal (IPART).
  • January 2022 - Council resolved to lodge the application to IPART for a Special Rate Variation of 15.7% in 2022/23 (including the rate peg) and 17.5% in 2023/24 (including the rate peg), representing a total cumulative increase of 35.95% over the two-year period, to be a permanent increase retained within the rate base.
  • 5 February to 7 March 2022 - IPART reviewed the application and provided the community with opportunities for feedback to inform its decision making.
  • 10 May 2022 -  IPART approved Council's special variation application to increase their income above the rate peg. IPART gave approval for a Permanent increase of 35.95% cumulative permanent increase over 2 years, applied across all rating categories. Click here to view IPART's Final Report
  • 16 June 2022 - At the June 2022 Council Meeting, Council resolved to increase rating income for 2022-23 by 15.7%. 

For more background information click here