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The major source of income for Council is the income provided by
a tax on property owners based on the value of their properties.
This tax is known as "Rates". The Department of Local
Government has developed an information package explaining why
you pay rates.
Rates are calculated on the land valuation of a property which is
multiplied by a 'rate in the dollar'. The land value is provided
to Council by the Valuer-General, a State Government authority.
The total amount of money Council can receive from Rates is "pegged"
by the State Government. Each year the Minister for Local Government
approves a maximum % increase in the total money Council can receive
from rates.
In addition to Land Rates for residential properties, a Domestic
Waste Management Charge is payable for Council to provide
garbage and recycling services.
From 2006/7, the State Government has also approved NSW Councils placing
a levy on all properties, for stormwater management, of $25 per
property ($12.50 per residential strata property). This new charge
is designed to allow councils to better manage the quantity and
quality of stormwater that flows off privately owned land. This
is necessary because the Stormwater Network throughout Sydney is
ageing and in recent years it has also had greater pressure placed
upon it from increased housing density and the popularity of hard
paved services.
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