The Victorian Government has established the Fair Go Rates System (FGRS - otherwise referred to as 'rate capping'), which is a framework limiting the maximum amount councils may increase rates in a year without seeking additional approvals.
The 2016-2017 Frankston City Annual Budget includes a capped increase in the average base rate of 2.5 per cent.
The Victorian Government’s introduction of rate capping will restrict Council’s ability to deliver new initiatives and major projects in the future, with an expected income shortfall totalling $43 million over the next five years.
Q and A on Rate Capping
More Information on Rate Capping
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