THE rapid rate at which farm land is being converted to residential subdivisions must surely mean that council’s rate base is growing exponentially as farm rates are converted to residential rates. In addition property values are increasing, and therefore so are the rate returns, which are assessed on the basis of the property’s value.
When both of these factors are taken into account you would expect the shire’s revenue base to be expanding rapidly. Add to this the record low borrowing rates, which should be reducing the debt repayment burden. So the question needs to be asked – where is the money going? Why do we have to have a rate increase more than double the rate of inflation?
D. Wynne,
Maryknoll.
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