Planned rates postponement policy
Something to think about. An example - rates $3200.00 + $250.00 establishment fee + $100.00 plus gst annual management fee + interest, being councils average cost of borrowings of preceding financial year, calculated daily + margin of 1% to cover staff costs + 0.25% risk reserve. Add that up over a period of say three years and the person who is already experiencing financial difficulty will be in even deeper debt. If the postponed rates plus costs are not paid back at the required time Council have the ability to sell the property to claim the debt. If you know of anyone intending to take this up please inform them of the costs involved and requirement to pay back in full when the ‘ event’ for which the rates postponement is deemed no longer active.
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