[Cherie Muir]

Hi there

If your Council allows age pensioners to accrue their rates against their estate, does your Council:

-charge interest at the maximum rate, or
-charge interest at a rate less than the maximum rate, or
-doesn’t charge interest at all.

Your input really appreciated on this one. Thanks.

[Pete Timmins]

Hi Cherie,

We no longer allow this for new pensioners, but for those already on deferral we charge the maximum interest rate.

Regards
Pete

[Michael Cherry]

Hi Cherie,

Up until this year we provided a discounted interest rate on overdue rates for pensioners who defer their rates against their estate. From this year however it is the maximum interest rate which applies.

Our previous discounted interest rate was based on a calculation our Treasury Accountant did using our weighted average rate of return earned on surplus cash invested – last year it was 2.37%.

Hope this assists.

Mick

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