In a contentious council meeting last night, North Sydney Council approved an 87 per cent increase in rates over two years. The decision, aimed at funding a $122 million redevelopment of the North Sydney Pool, faced fierce opposition from a large crowd of residents who booed the motion.
Councillor James Spenceley, one of the three dissenting votes, expressed frustration that the council ignored the results of a community consultation, which indicated that 95 per cent of residents opposed such a drastic rate rise. He highlighted the financial burdens residents are experiencing during the current cost-of-living crisis, arguing that the proposed increase was excessive. Spenceley pointed out that rising costs for the pool project, now $60 million over budget, necessitate scrutiny of the rate increases, which could lead to $500 million in rate payments over the next decade.
The authority to implement the special rate variation (SRV) ultimately lies with the Independent Pricing and Regulatory Tribunal, which must approve councils’ requests to exceed the maximum rate limits. North Sydney joins the Northern Beaches Council, which recently approved a 40 per cent rate hike, marking a worrying trend for residents facing escalating costs.