Budget - Budget to provide rates relief for investors, business
Date published: 6 July 2016
The Townsville City Council is backing investors and businesses in the city by extending the rates freeze in the 2016/17 City Budget to investment and commercial properties.
Council’s Governance and Finance Committee chair Cr Verena Coombe said the freeze on charges would provide financial relief across all sectors of the community.
“The budget has ensured that the benefits of the rates freeze will reach everyone in our community including the mum and dad investors, and 2,195 commercial property owners in the city,” Cr Coombe said.
“A zero increase on rates and charges will help to ease pressures on rents, and provide more direct relief to the many small businesses that own their own premises in the city.
“The freeze on charges will also flow to the 34,700 investment properties in Townsville which are in many cases owned by local families.
“With unemployment at record highs and the economy in tough times, the measures in this year’s City Budget are zeroing in on cost pressures and restoring confidence.”
Cr Coombe said the council’s buying power in the local community would also continue to support economic activity and work opportunities.
Council will spend around $225 million with local suppliers and $136 million in wages for local residents in the delivery of projects, programs and service across the city over the next year. The City Budget will also support employment opportunities for young people with 37 apprenticeships and 28 positions for trainees.
