Ratepayers in Coolaroo and Jacana are facing rates rises of up to 22 per cent, Hume council has revealed.
The council recently released details of its property revaluations which were carried out earlier this year, revealing that property values have increased by an average of 31 per cent since 2016.
In Coolaroo, property values have increased 53 per cent in the past two years, while in Jacana, they have risen 50 per cent.
In comparison, properties in Yuroke and Wildwood rose by just 8 per cent.
The revaluations are used by the council to calculate rates based on property values.
Under the state government’s rate cap, the council is only permitted to increase its total rate income by 2.25 per cent.
Ratepayers whose property value has increased by more than 31 per cent, will see a rates increase above 2.25 per cent, while properties with a value increase of less than 31 per cent will receive an increase of less than 2.25 per cent – and some may see a reduction in their rates.
Mayor Geoff Porter said this meant that ratepayers in Coolaroo and Jacana could receive higher rates rises than people living in other suburbs.
“The largest increases in property values are in Coolaroo and Jacana, where rates will rise on average up to 22 per cent, and parts of Kalkallo where new infrastructure and development is accelerating,” he said.
“On average, residents in Sunbury and Greenvale will see little change in their rates and Craigieburn will experience increases in line with the cap.
“Tullamarine and Gladstone Park will see increases of about 10 per cent where demand for development sites in this location continues to be strong.”
Cr Porter said the council understood that fluctuations in property valuations could be unsettling for ratepayers.
“From 2019, the state government has mandated that these revaluations be undertaken annually, which will hopefully eliminate the large fluctuations we have been seeing, making it easier for property owners to plan their finances.”
Ratepayers have two months from the dates on their rates notice to object to their property valuation.
