The rate variations are a one-off % lift in total general rate income. If they expire, the value of a rate variation (including effect of rate pegs) is removed from the total rate income. Applications to IPART include the anticipated value of the rate peg, plus the amount above rate peg that is sought.
IPART assesses council applications for special variations using criteria set by the NSW Government. The criteria are set out in guidelines provided by the Division of Local Government
There are two types of special variation applications s508(2) and s508A.
As outlined in Council’s adopted LTFP the following model was proposed and is now adopted:
The Building Asset Management Plan covers in detail the priorities, assessment and adopted program for these critical assets.