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Early payment incentive pays dividends

Posted on August 25, 2017
Over 8,500 ratepayers paid their rates in full to qualify to go into the draw to win one of 47 prizes on offer as part of the City's early payment rates incentive scheme.

Mayor Barry McKenna said the incentive scheme meant that the City had collected over $14 million in early rates payments.

"That's important, as it helps improve cash flows, reduces collection costs and also means we can earn interest on some of the money, which helps pay for services for the community," he said.

"That in turn has the added benefit of helping us to keep average residential rates lower than is the case in many of our neighbouring Councils."

Mayor McKenna noted that although the City's rates had increased by 4.95% for 2017-18, average residential rates remained amongst the lowest in Perth.

"That is why the early payment incentive scheme is important and benefits all of our ratepayers and not just the prize winners."

Average residential rates in the City of Bayswater are lower than in Bassendean, Swan, Subiaco, Perth, Victoria Park, Gosnells, Wanneroo, Joondalup, Fremantle, Cockburn, Melville and on par with the City of Stirling.

"The City's early payment incentive scheme, when combined with the prudent management of the City's finances and debt free status, pays dividends and represents a good investment for us," Mayor McKenna said.

This week the City drew at random the 47 prize winners and they will be invited to a special rates prize draw function in September, where they will have the chance to take away some great prizes including a car, holiday vouchers and cash.

The amount paid by the 4 August qualifying date to go into the prize draw represents around 22% of all rates.

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