Policy for Special Rate/Charge Schemes in Retail/Commercial Precincts or Centres
What is a special rate/charge scheme?
A special rate/charge scheme is a method of raising additional funds through property rates. These are different from general rates and charges because they are levied for particular works or services that collectively benefit properties within a defined area. Council can raise either a special rate or a special charge (or a combination of both), the differences of which can be described below:
Special Charge: is a flat fee levy calculated by dividing the number of properties within the defined geographic area by the total amount to be raised.
Special Rate: is a levy calculated using the Council’s valuation of each property (Capital Improved Value) to determine the amount of money that each property will contribute to achieve the total value.
The amount of money raised through a special rate/charge will depend on the level of projects or services to be delivered and the cost of delivering these projects or services. The number of years that a special rate/charge scheme runs for, again, depends on the length of time it is necessary to achieve the objectives to be delivered.