Sydney residents may see rates increase due to planned city projects

Residents of Sydney will experience a rise in household expenses after the introduction of the carbon tax - and once the City's planned transport, infrastructure and civic upgrades begin.

As far as households and businesses are concerned, gas prices and other utility bills will soon be adding to rising council rates which will increase incrementally across the board, according to a statement released by the City Of Sydney today (May 15).

The recommendations of the Independent Pricing and Regulatory Tribunal have contributed to average increases of $14 per year for households - from $605 to $619.

Businesses in the inner city can expect to see an average rise of $16,008 to $16,297 per year and those outside the city centre will see their rates increase from $5,609 to $5,807 on average.

Exemptions will still be in place for pensioners, who will not pay rates if they live in the centre of Sydney.

Mayor Clover Moore said: "Our research shows people choose to work, set up a business and visit Sydney for many of the same reasons they choose to live here, so making our city work for residents is just as important as making it work for business and visitors.

"The City has a long term-plan that outlines how we plan to tackle these critical issues and I'm pleased to report that we are well on track to meeting our goals."

Posted by Callum Fleming