Bega Valley Shire Council are considering raising rates by a whopping 35 per cent, from July next year.
The potential rise, is to deal with what council said is an "immediate and significant need to generate additional revenue to cover increasing costs and ongoing asset management".
Council staff are recommending councillors endorse Scenario 2 - in the Long Term Financial Plan' 2023-2032 which currently models "a single year special variation increase to rates of 35% permanently applied in the rate base, acknowledging the immediate and significant need Council has to generate additional revenue to cover increasing costs and ongoing asset management needs".
It’s one of three scenarios provided to councillors, with two of those outlining the need for a special variation to rates to generate additional income.
Bega Valley Shire Council has applied for - and is likely to get - approval for a 2.5 per cent increase to rates for the coming financial year, 2022/23.
Council is predicting a loss of $9.45 million in its general fund for the next financial year, 2022/23.
The potential rate rise of 35 per cent will be discussed at the next council meeting tomorrow (Wednesday May 4).