City of Kalgoorlie-Boulder proposes 5 per cent rise in rates revenue yield for 2025-26 financial year

The City of Kalgoorlie-Boulder is proposing to increase the amount of money it receives from rates by 5 per cent in the next financial year. And while it admits this will lead to higher rates for individual homes and businesses, the exact rise for every ratepayer has not yet been determined and will vary because of changes to the valuation of individual properties. However, the added burden will likely be less than the current 2024-25 financial year, when the city increased its rates revenue yield by more than 11 per cent, and the rise in rates bills for individual gross rental value residential properties averaged just under 11 per cent. The planned rise in the 2025-26 rates revenue yield is outlined in an agenda item report to next week’s ordinary council meeting advising of the intention to levy differential rates. The report stated the city wanted to receive $35,822,553 in rates revenue in the 2025-26 financial year compared to the current financial year revenue of $34,112,213. The report said this represented an increase of $1,710,340, or 5.01 per cent. The report said this increase was necessary to meet the anticipated revenue requirements for the 2025-26 budget, addressing the changing economic conditions across the city. “The 5.01 per cent increase on the 2024-25 rates revenue yield is equivalent to a 3.3 per cent increase to the rate-in-the-dollar and minimum payments for both gross rental value and unimproved differential rating categories,” the report said. “Although this is above the Consumer Price Index’s 2.8 per cent increase, it is below the Local Government Cost Index June forecast of 3.6 per cent.” The report said the city anticipated a 3 per cent increase in operating expenditure for 2025-26 and an expected $77 million in capital works. “Residents and businesses will experience higher rates, which might be a financial burden for some,” the report said. “It’s important to communicate the benefits and reasons for the increase to gain public support. “The expected 3 per cent increase in operating expenditure for 2025-26 indicates that the council anticipates higher costs, which could be due to inflation, increased service demands, or other factors. “The allocation of $77m for capital works suggests significant investment in infrastructure and development projects, which can enhance community facilities and services.” Councillors will next week be asked to release the proposed rise in rates revenue yield for public comment as part of the wider objects and reasons for imposing differential rates and minimum payments. The proposed rate-in-the-dollar amounts for each rating category are: GRV residential, 0.053716¢, minimum payment $1169; GRV commercial/industrial 0.080987¢, minimum payment $1169; GRV accommodation 0.096069¢, minimum payment $1286; GRV mining 0.107432¢, minimum payment $1286; UV pastoral/other 0.096895¢, minimum payment $364; and UV mining 0.193584¢, minimum payment $455. It said the almost $36m to be raised in rates was only one source of the city’s 2025-26 operating revenue, which was budgeted to be about $136m.