The City of Port Phillip (Council) has now approved the Budget for 2024/25.
As part of this year’s budget, Council approved differential rate increases for derelict land, unactivated retail land, and vacant land. This is in response to community concern about derelict and vacant sites. The differential rate increases are designed to influence behaviour and shorten the time properties are left unutilised. The BCNA strongly supports this policy.
The three categories and the rates to apply are:
- Derelict Land - “buildings that are left in a state of disrepair, unsightly, raise health and safety concerns, promote anti-social behaviour or which cause loss of neighbourhood amenity.” The rate will be four times the residential rate per dollar.
- Unactivated Retail Land “including shops that are not open for trade for more than 24 months which hinders retail vibrancy & business activation and negatively impacts municipal streetscapes.” The rate will be four times the residential rate per dollar.
- Vacant Land “which is not developed in a timely manner that otherwise would result in a more vibrant and liveable city.” The rate will be three times the residential rate per dollar.
Residential rates will increase by 2.75 per cent which is consistent with the Victorian Government’s guideline.
Click here to read the Minutes of Council’s budget meeting.