The increase comes after the Reserve Bank of Australia (RBA) hiked interest rates up for the second time in as many months. 9News
councils will hike up their rates in what is yet another blow to residents already struggling with the rising cost of living.
The rate peg is the maximum amount councils can increase rates by and is set by the Independent Pricing and Regulatory Tribunal .To lift rates further each council had to apply to IPART and get the new figure approved as part of a special process. "Some councils have demonstrated that without additional funds they will not be able to deliver the projects they have already consulted on and included in their budgets."READ MORE:"We were careful to balance the need of councils to maintain the services and investment they had already committed to against the need to keep rates affordable for the community," Cope said.
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