Kempsey Shire Council has voted to apply for a Special Rate Variation to address its forecast deficit of $79 million.
At a meeting held today (November 21) at the Majestic Cinema in Kempsey, councillors voted 8-1 to ask the Independent Pricing and Regulatory Tribunal (IPART) to approve an increase above the annual rate peg.
Councillor Alexandra Wyatt was the only No vote.
Should council's application be approved, this would result in a 7.9 per cent increase on current rates, in the first year.
News of this year's rate peg came through during the meeting.
General Manager Craig Milburn told councillors and a gallery of about 50 people, that it had been set at around 4.5 per cent for the next year. This was later confirmed to be 4.7 per cent.
Deducting this from any approved SRV increase, means the most Kempsey home and landowners would pay above the rate peg is 3.2 per cent the following financial year.
How councillors voted and their views on the SRV can be read here.
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