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 2017-2018 Frankston City Annual Budget includes a capped increase in the average base rate of 2 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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