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When deciding how much it needs to raise in general rates, council considers community needs in relation to its available income for the coming year.
Determining how much each property pays involves determining the total amount of rate revenue required and dividing this across the total value of all properties in the municipality to establish a rate in the dollar. The rate in the dollar is then applied to each individual property’s value to calculate its rates.

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Differential rates are where councils set different rates in the dollar for different categories of rateable land.
Properties are grouped into categories based on how the land is used, such as homes, farms or businesses and each category is charged a different rate in the dollar of the property’s Capital Improved Value (CIV).
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Your rates are worked out by applying your property’s value to the rate set for your property type, then adding the rate cap. Because each category has a different rate, two properties with the same value may pay different amounts if they are used for different purposes. See the graphic below.
Source: Calculating Rates

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The difference between Capital Projects and Renewal Projects
New capital projects and renewal projects both involve investing in community assets, but they serve different purposes. New capital projects create something new or significantly upgrade what already exists. This might include building a new community facility, constructing a new road or path, or adding new infrastructure that responds to growth, changing needs, or new service demands. These projects increase the number or capacity of Council assets.
Renewal projects, on the other hand, focus on maintaining and replacing existing assets to their original standard so they remain safe, reliable and fit for purpose. This can include replacing roofs, upgrading ageing playground equipment, or renewing drainage infrastructure. Renewal does not add new assets; it extends the life of what the community already has and helps avoid more costly repairs or failures in the future. Renewal is different to general maintenance, which has it's own budget allocation and covers things like plumbing and electrical.
Together, new capital and renewal investment help Council balance improving services and facilities while also looking after the assets the community relies on every day.