Please find attached our DRAFT submission – we are still considering item 9 and our position may change to the following,
9. What implementation option would you prefer for the changes to the rate peg methodology?
Our preference is that the recommended changes commence in full for the 2024-25 financial year and include a true-up. Accordingly IPART would:
• replace the LGCI with the 3-component BCC model and use 3 council groups
• retain the population factor (altered to allow negative supplementary valuations) and not remove prison populations
• implement the proposed additional and separate ESL factor, and
• include a one-off true-up adjustment for the differences between the LGCI and the BCC so that councils would be no worse off under the new methodology for 2024/25.
If you have any comments or additional information regarding this please let me know or post in the forum.
Regards,
Andrew
NSW Revenue Professionals submission to IPART Rate Peg methodology draft report – DRAFT
