Brisbane City Council Budget
Lord Mayor Graham Quirk has brought down the Brisbane City Council Annual Plan and Budget 2018-19. The key areas of the $3.1 billion budget include significant allocations to essential infrastructure projects and an increase to non-residential rates.
The 2018/19 Budget also includes substantial investments in road projects, including: $968 million to road improvements and $717 million to public and active transport. Major transport capital investment highlights include:
Rates and fees & charges
The Budget reports that the average increase in rates for residential properties will be 2.5%.
While the differential general rate ‘cents in the dollar’ figure for some CBD rating categories may have decreased, on average non-residential rates will increase across the city by 4.1%.
Asset owners are encouraged to review the budget to see how individual properties are affected by these changes.
The Property Council is deeply concerned by the additional charges enforced under the commercial ratings categories, which will result in significant annual increases for many asset owners.
Infrastructure investment
The 2018/19 Budget also includes substantial investments in road projects, as well as funding for the Brisbane Metro. Major transport capital investment highlights include:
- $708 million has been allocated to the Brisbane Metro project over the next four years
- $33.9 million to fund 60 new buses and $20 million accessible bus stops
- $96 million delivered for the Kingsford Smith Drive upgrade
- $39 million allocated to the Wynnum Road Corridor upgrade
- $90 million for Roads Network Resurfacing
Access the Brisbane City Council’s annual plan and budget documents.