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Brisbane taxpayers hit by biggest rate hike in over a decade following floods and pandemic

Brisbane ratepayers will be hit with a fares increase of almost 5% from July 1, the city’s biggest fares increase in more than a decade.

Lord Mayor Adrian Schrinner announced the council’s budget would include a 4.93 per cent rate hike as the city grapples with the combined effects of COVID-19 and recent flooding.

For a taxpayer with the lowest minimum rates, the increase per quarter will be $38.48, which will raise the lowest rate bill from $780 to $818 per year.

The council’s net debt has risen to $3 billion from $2.8 billion, and it faces a flood recovery bill of $330 million, plus $220 million in lost revenue over the past few years. previous two years of the pandemic.

Mr Schrinner said the budget was ‘reasonable and affordable’ with a rate hike below Brisbane’s inflation rate of 6%.

“Brisbane already has the cheapest residential rates in South East Queensland thanks to our years of sound financial management,” he said.

The last time Brisbane residents faced a rate hike of nearly 5% was in 2010-11, when rates tumbled by 5.04%.

Brisbane Mayor Adrian Schrinner presented spending plans for the next financial year at City Hall.(ABC News: Alicia Nally)

Brisbane’s inner suburb of Grange faces one of the highest rate hikes at 7.19%, an annual increase of $166.86.

Lota on the Bay has the lowest fare increase of just 1.49% or $24.59.

Rate jump follows ‘unusual year’

The council is also set to tackle the housing crisis in Brisbane, charge landlords who rent out their accommodation on the short-term accommodation market a 50% surcharge on rates – approximately $600 more on their rate bill annually.

A new “transitional accommodation” rate category will be added from July 1, in a move the mayor hopes will encourage landlords to return their homes to the long-term rental market.

Flood-affected homeowners who still cannot return to their homes will be eligible for a $1,000 rate rebate.

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