Brisbane City Council budget reveals rates rise to recover from flood, COVID-19 pandemic

Brisbane ratepayers will be hit with a nearly 5 per cent rates increase from July 1, the city's highest rates increase in more than a decade.

Lord Mayor Adrian Schrinner announced the council budget would include a 4.93 per cent rates hike as the city grappled with the combined effects of COVID-19 and recent floods.

For a ratepayer on the lowest minimum rates, the increase per quarter will be $38.48, bringing the lowest rates bill up from $780 to $818 per year.

The council's net debt has grown to $3 billion, up from $2.8 billion, and it faces a $330 million flood recovery bill, plus $220 million of revenue loss from the previous two years of the pandemic.

Read More: https://www.abc.net.au/news/2022-06-15/qld-brisbane-city-council-budget-rates-rise-after-floods/101153448