Muswellbrook Shire Council is calling on residents, businesses and stakeholders to provide feedback on a proposed special rate variation (SRV) aimed at securing the region’s economic future.
The proposal includes a 29 per cent increase on mining rates to help offset the financial impact of mine closures expected by 2030. Residential, business and farmland rates would remain unchanged beyond the 3.1 per cent increase determined by the rate peg.
Central to the plan is the creation of a Future Fund, with an initial $6 million contribution from the SRV. Council says the fund will support vital services and help diversify the local economy as mining revenue declines.
Mayor Jeff Drayton said the SRV is essential to avoid financial distress.
“If we fail to act, our Shire will decline and residents will bear the financial pain of mine closures,” Mayor Drayton said.
“An Special Rate Variation allows us to invest in our Future Fund with the financial strength to diversify, generate jobs, and safeguard services for our residents.”
Council is also working with partners including BHP, AGL and Idemitsu to repurpose mining land for manufacturing, agritech and circular economy industries, while supporting education and training initiatives for future jobs.
Public consultation on the SRV closes at 5pm today, with feedback informing a formal application to the Independent Pricing and Regulatory Tribunal (IPART) in February.
