City of Karratha mitigates rate increases amid rising costs

In an effort to alleviate financial pressure on residents amid rising operational expenses, the City of Karratha has managed to limit the increase in rates to just 3.5 per cent for the upcoming fiscal year.

This decision comes despite challenges such as a 10.9 per cent hike in insurance premiums affecting the city’s budget.

Mayor Daniel Scott highlighted that the city’s proactive financial management had played a pivotal role in cushioning the impact of escalating costs on ratepayers.

“Council has worked hard to reduce its reliance on rates, diversifying its revenue sources through government grants, private sector investments, and various fees and charges,” Mr Scott said.

The modest 3.5 per cent increase equates to about $1.63 per week for residential ratepayers, aligning closely with inflationary pressures and the city’s projected budgetary needs for the 2024-25 financial year.

Mr Scott underlined the importance of alternative income streams, including property investments and revenue generated from initiatives like The Quarter, in mitigating the need for higher rate hikes.

“Our investment in The Quarter has been particularly beneficial, contributing significantly to reducing the required rate increase by 3.75 per cent,” he said.

“This strategic approach not only stabilises our financial footing but also enables us to continue enhancing community facilities, meeting local demands, and supporting regional development initiatives.”

The mayor assured residents that despite the economic challenges faced by both the city and its residents, careful financial planning and the use of alternative income sources had effectively shielded ratepayers from more substantial increases.

“By leveraging diversified revenue streams, we can absorb the majority of cost escalations without passing them directly on to our residents,” he said.

“This ensures that Karratha remains an affordable and attractive place to live, even in the face of broader economic uncertainties.”

For further details on the city’s budgetary plans and initiatives, residents are encouraged to visit the city of Karratha website or contact city administration directly.