Council receives its main source of income by levying rates. This income is used to fund the vast array of Council programs, services and on maintaining public infrastructure.
All rates are levied in July for the upcoming financial year and may be paid in full by the end of August or by four equal instalments by the last day of August, November, February and May each year. Interest at the rate of 8% per annum accrues daily on overdue amounts.
There will be approximately 25,600 rate notices issued in 2016/17 raising a total of $37.4 million.
Approximately 94% of the rateable properties in the Woollahra Local Government Area are residential.
The rates on residential properties consist of a base amount plus an amount calculated by multiplying land value by a rate in the dollar. The base amount generates 50% of total residential rates with the other 50% calculated based on land value.
A State Government rebate of up to $250 per year can be granted to eligible pensioners, subject to verification by the Department of Veterans Affairs or Centrelink. Eligible pensioners also receive a full rebate for Council's Environmental and Infrastructure Renewal Levy.
Approximately 6% of rateable properties in Woollahra are businesses.
Business rates are based on the following categories:
The business rates are calculated by multiplying land value by a rate in the dollar, subject to a minimum rate of $602.55 for 2016/17 (a fixed rate in the dollar based on varying land values).
Council is currently utilising a valuation base date of 01/07/2015 which is supplied by the Valuer General.
Council's preferred method of payment is direct debit.
Authorisation forms are also available from our Customer Service Centre.
For more details phone Council's Rates Department on 9391 7051.