Brisbane’s Rates Hike Highest Since 2010, Lota Residents to Face Lowest Increase

Brisbane’s Rates Hike Highest Since 2010, Lota Residents to Face Lowest Increase

Council recently announced its record $4-billion 2022-23 Budget, along with an average rates hike of 4.93 per cent, the highest since 2010. Did you know that Lota residents will be paying the least rate increase among Brisbane’s suburbs, at 1.49 per cent?

Out of the 184 Brisbane suburbs, Lota’s rate increase is the lowest, followed by Manly (2.03 per cent) and Wynnum (2.12 per cent). Lake Manchester residents will experience the highest rate bill hike with 7.3 per cent. Grange and Burbank follow with a 7.19 per cent and 7.17 per cent rate increase, respectively.

Under the Budget, Council will prioritise flood-recovery projects, investing around $500 million over the next three years to support 23,000 households across Brisbane’s 177 suburbs. Included in that allocation is $166.2 million that will go towards flood-impacted community clubs.

“Brisbane already has the cheapest residential rates in south east Queensland thanks to our years of sensible financial management,” Cr Adrian Schrinner explained, adding that the budget is “sensible and affordable” and is lower than the city’s 6 per cent inflation rate.

Moreover, the Lord Mayor said that the budget guarantees Brisbane residents will get more whilst paying less compared to all the other southeast councils. The 4.93 per cent rates hike, however, is the highest rise in 12 years and is considerably higher than last year’s jump of 3.75 per cent.

“For just $1.63 a week extra, we will undertake Brisbane’s biggest-ever flood rebuild, deliver game-changing infrastructure projects for our future and guarantee record spending in our suburbs.

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“Last month I announced we would pause and cancel a number of projects and trim spending in some areas to ensure we can prioritise Brisbane’s biggest ever rebuild,” Cr Schrinner said.

“This budget delivers on that commitment, ensuring we fast-track this recovery while keeping costs under control.”

On top of the $7 million that was spent on flood relief initiatives, which include the $250 rate rebates offered to flood-affected homeowners and the $5,000 cash payments to clubs for their clean-up efforts, a new $1,000 rates rebate will be offered to owner-occupiers who are yet to return to their flood-impacted homes.

“This measure will go to those flood victims who have been impacted the most, ensuring they don’t pay full rates while their home is uninhabitable,” Cr Schrinner said.

Meanwhile, property owners who are renting out their homes for short-term accommodation for more than sixty days a year will see a 50 per cent rate hike. Council will implement the hike in the hope that homeowners will be pressured to return their property to the long-term rental market which will help solve Brisbane’s housing crisis.