Ratepayers will be forced to find an extra $160 a year for rates after council handed down its $2 billion 2022-23 budget.
Mayor Tom Tate confirmed a 4.3 per cent increase during the city’s budget meeting on Tuesday morning.
It’s the largest rate hike in a decade but is still below the current rate of inflation.
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“This is the 11th consecutive year where our council has kept the average rate increase at, or around, CPI,” Mayor Tom Tate said.
“Shaping this budget was the toughest in my 10 years as mayor. Like small businesses and families, our City budget has been impacted by rising costs in materials and supply shortages.
“Set against this backdrop, all councillors have worked tirelessly to find the savings needed to keep our average rate increase below CPI.
“The last decade has seen CPI nationally remain low and we have pegged our annual rate increase accordingly.
“In 2022-23, CPI has spiked but we remain below CPI and that is positive news.
“We owe it to the small business community and every ratepayer to continue to deliver the services they expect, at a price they can afford.
“Our focus in 2022-23 will be on frontline services including improving the safety of our community and delivering greater sustainability in all our programs and projects.”
Water services and charges will also rise by 3 per cent for the average household.
The budget also includes $560 million for key waste management, sewerage and water service programs, which is almost a third of the entire budget.
$285 million will be invested in transport, including for road repairs, improved cycleways, new bridge works and pedestrian pathways.
$47 million of that will go city-wide road repair and reseal programs including new kerbs, channels, guard rails and pedestrian crossings.
The upgrade of Peachy Road in Ormeau, reconstruction of road pavement along Cotlew Street in Ashmore, a new road bridge in Kerkin Road North in Pimpama and the upgrade of the intersection at Mirambeena Drive and Creek Street in Pimpama have also been included in the budget.
The city is continuing to focus on protecting green and open space, allocating $22 million dollars towards GreenHeart over the next two year.
“This will be a signature parkland for the entire south east Queensland region,” Mayor Tate said.
“It is a 241-hectare parcel of land that will take a decade to fully develop but will add incredible community space between Robina and Merrimac.
“The space will feature sporting fields, nature experiences and event sites for large outdoor concerts.
“In every way, this will be a huge asset for the entire SEQ region given its proximity to heavy rail and the M1.”
There has been a massive investment in the maintenance city’s outdoor spaces, like sporting fields and parks, with $300 million dollars set aside.
More than $55 million will also be invested in the city’s economic credentials in areas like marine, film, television and tourism.
Destination Gold Coast, which is the city’s main tourism body, will receive $16.5 million, Major Events Gold Coast will receive close to $12 million and Study Gold Coast will be allocated $3 million.