IPART approves 52.48% special rate variation for Snowy Monaro

Published on 16 June 2023

The NSW Independent Pricing and Regulatory Tribunal (IPART) yesterday announced that Snowy Monaro Regional Council has received approval for a 52.48% special rate variation (SRV) over four years. The approved increase includes the standard rate cap.

Councillors will decide whether to proceed with the rate increase at an extraordinary meeting on Thursday 29 June 2023.

“Council is grateful for IPART’s determination, as it enables Council to pursue the much-needed suite of projects, maintenance and upgrades outlined during the consultation period,” said Peter Bascomb, Snowy Monaro Regional Council’s Chief Executive Officer.

IPART considers a wide range of factors when determining SRV applications. These include whether the community can afford the proposed increase, and whether Council has a genuine need for the additional funds.

Once councillors have determined the implementation of this SRV, we will provide information to explain in detail what this means for you and your rates.

To see an estimate of the impact of the proposed SRV on your 2023/24 rates, try the rates calculator on our Your Say site www.yoursaysnowymonaro.com.au/special-rate-variation

IPART only approved the first four years of Council’s application for increases over five years. IPART concluded that this smaller increase more accurately reflected the information provided to the community.

“While disappointing that Council only received approval for four years, this still enables us to commence our plans for increased renewal of our transport infrastructure” said Mr Bascomb.

“However, Council will have to consider whether to apply again in four years’ time for a fifth year of variation, or whether to modify the long-term financial plan in light of the reduced revenue from the fifth year.”

Contact Council with any questions or concerns: council@snowymonaro.nsw.gov.au or 1300 345 345.