Some time prior to our Council amalgamation, Wyong ratepayers were required to pay a 7.6 percent Special Rate Variation (SRV), inclusive of an ordinary rate increase, on a compounding basis.
This was approved by the Independent Pricing and Regulatory Tribunal (IPART) and apparently the Local Government Act provided for this compounding.
As a consequence, I believe Wyong ratepayers paid considerably more than they should have to fund Wyong’s $40M infrastructure backlog over a four-year term.
In my case, I believe I was more than $100 out of pocket at the end of the SRV.
Between the third and fourth year of the SRV, there was an initiative to cease running the SRV because the funding target had been reached.
This was over-ruled by Macquarie St (State Government).
When the negative impact of the SRV was brought to the attention of presiding councillors and State MPs David Harris, David Mehan and Yasmin Catley, silence followed.
Surpluses for Wyong City Hall were the order of the day.
If the likes of (Central Coast Administrator) Mr Persson and (Central Coast Council Acting CEO) Rik Hart have any actuarial knowledge, they would assess the SRV credit of old to favour former Wyong ratepayers in relation to the proposed 15 percent rate increase.
Only Gosford ratepayers should incur a rate rise to normalise them and put them on par with the current higher paying Wyong ratepayers.
The old Wyong ratepayers cannot continue to be flogged like a worn out draught horse.
Email, Dec 22
Graham C Hanson, Lake Munmorah