The major source of income for Council is the income derived from the levy of rates.
Rates are calculated based on the land value of your property and not the value of your premises. This value is determined by the NSW Valuer General (see NSW Valuer General "Your Land Value" Fact Sheet), and is usually reviewed every three years.
If you own a strata title property, the land value of the entire site is divided by the unit entitlement (listed on your strata plan) to ascertain the land value for each unit.
The income received from rates contributes to the provision of day-to-day services, maintaining and building new facilities for the community, improving infrastructure and protecting the environment in the Lane Cove local government area.
- Waste collection, recycling and street cleaning
- Local road upgrades
- Improvements to leisure and recreational facilities
- Improvements to library services; and
- Town centre improvements
Rates are calculated using a rate in the dollar determined and reviewed by Council each year. It is a formula based on land value and usage – business or residential.
All land valuations and rates calculations are subject to a minimum amount. The rate in the dollar adopted by Council will be shown on your annual rate notice sent to you in July.