The City is now inviting submissions from the community after the Council endorsed the proposed rating model for the 2023/24 financial year.
The proposed model will result in a 5 per cent increase to the rate in the dollar, or roughly $2.32 a week for residential ratepayers.
The proposed increase is below the Consumer Price Index of 7 per cent and increasing costs to the City including insurance premiums rising by 12.9 per cent.
The proposed model would generate approximately $51 million in rates in the 2023/24 financial year, making up 37% of the City’s total funding.
Other sources of income like property investments, grants, and fees and charges provide positive alternative revenue sources that reduce reliance on rates meaning residents are not hit as hard by rising costs to the City.
City of Karratha Deputy Mayor Kelly Nunn said the City was faced with an increasing costs to deliver services.
“We are aware of the rising cost of living impacting residents, however this has also affected the City,” Cr Nunn said.
“This proposed model is now open for public comment, and we appreciate your feedback that will be used to help inform the final rates model.
“I encourage all residents to provide feedback and comment on the proposed model so we can factor that in when finalising the annual budget.”
Deputy Mayor Nunn said the proposed rates model meets the anticipated revenue requirements of the 2023/24 Budget while responding to the changed economic conditions being experienced across the district
“Council has worked hard to reduce its reliance on rates, with most of its revenue sourced from government grants, the private sector, investments, and fees and charges,” Cr Nunn said.
“This will allow us to provide ongoing upgrades and renewal of facilities, meet community demands, maintain service levels and support for development within our region.”
The rating model will now be advertised to seek feedback from rate payers.
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