Council Rates Benchmarking 2021
The annual Council rates benchmarking exercise presented at the July meeting again shows a relatively favourable outcome for Cairns.
Much of the difference can sometimes be attributed to water rates where costs in SEQ are far higher. I prefer to focus on the general rates related to property valuations.
Higher minimum general rate structures limit the effect of valuations over the spectrum on progressivity. The lower minimum rate in Brisbane stands out here relative to other councils.
I would have to go back and dig out some old rates analysis spreadsheets for Cairns from a few years back but from memory in the strata sector at the time everything below sub-penthouse in the Esplanade Aquarius was paying the same minimum rate as the cheapest suburban bedsitter. Something to consider with rental affordability an issue.
Cairns should be due a valuation update next year so will update details when these are released and hopefully prior to budget..
cairnseconomy 