Residents of South Kingsville and Spotswood would be hit with the biggest rates increases under Hobsons Bay’s draft 2014-15 budget.
Rates are based on new property valuations, with South Kingsville recording the biggest growth in capital improved value (CIV) at
5.96 per cent, or $28,136 – up from $471,991 last year to $500,127 this year. Spotswood has the next-highest dollar increase, rising 4.66 per cent, or $26,208 – from $562,733 to $588,941.
Seaholme dropped in CIV by an average of
1.69 per cent or $11,341 (down from $669,724 to $658,383), while Altona fell by nearly 1 per cent or $5164 ($535,678 to $530,514).
Across the board, residential rates will increase by an average of about 5 per cent.
Last year, rates rose by a flat 5 per cent.
Commercial and industrial properties will be hit with the biggest rates hikes after showing strong growth of 10.53 and 12.73 per cent, respectively. But “cultural” and recreational land values dropped by a dramatic 10.38 per cent, and petrochemical plants dropped 1.63 per cent.
The proposed budget is out for comment and residents can provide feedback until June 4.
