Public Exhibition: 2018-19 Rating Model

At the 21 March 2018 Council Meeting, Council resolved to adopt Rating Model 4. This model maximises the alternate base in each category thus narrowing the distribution and ensuring those properties with the highest valuations pay less. Additionally, lower valued properties are not penalised by this model as 1,213 properties (65%) pay less under this model:

Category

Base Rate

Ad Valorum Rate

Base %

Ad Valorum %

Total Category Yield

Residential

$248.56

$0.0024155

45%

55%

$812,500

Business

$644.08

$0.0054457

45%

55%

$375,000

Farmland

$219.73

$0.0014326

45%

55%

$62,500

Mining

$644.08

$0.0054457

45%

55%

$0

 

 

 

 

 

$1,250,000

 

An online calculator has been developed to allow everyone, in the comfort of their own home, to enter their valuation data and see what their rate levy was for 2017-18 and what it is estimated to be for 2018-19. To use the calculator, you will need the following information: 1. Your rating category (residential, business, farmland), 2. Your land area, 3. Your valuation.

To use the Online Calculator, please click here - Online Calculator Tool

Customer Care can also help you with the calculator if you have any questions or would like them to input your information for you. Please phone 22244 or drop into their office on New Cascade Road.

Written submissions can be made online - Rating Model Public Exhibition or via email to regionalcouncil [at] nirc.gov.nf or posted to Norfolk Island Regional Council, PO Box 95, Norfolk Island 2899, or hand delivered to Customer Care, 9 New Cascade Road.

To view the report that went to Council, including an extensive breakdown of the rating model, please see document below.