Developer fee rise could save Albury Council $8.5 million over decade
Albury will raise developer fees from $20,000 to $30,000 per lot, adding $8.5m in savings across ten years.
Albury Council is increasing developer fees in the Thurgoona-Wirlinga growth area by 50 per cent to ease financial pressure on ratepayers. The rise from $20,000 to $30,000 per lot will generate an extra $7.3 million over ten years, plus $1.24 million in reduced interest, totalling $8.5 million in savings.
For an average residential ratepayer, this fee rise saves about $28 to $30 when combined with the council's planned rate increases. Councillor Geoff Hudson said the move reduces the burden on the community at a time when council is asking residents to support larger rate hikes.
However, over 2,500 lots are already approved or under assessment, so the impact may not be felt for eight to nine years.
- $20,000 to $30,000 per lot
- Fee increase
- $8.5 million
- Ten-year saving
- $28 to $30
- Average household saving
- over 2,500 lots
- Approved or under assessment
Why it mattersDeveloper fees shift some of the cost of infrastructure from existing ratepayers to new builders and buyers.
AustraliaAlbury ratepayers face lower effective rate increases if this fee rises, though future home and land buyers in new areas may pay more.
✓ Claims checked against the source and corrected before publish. checked 8 d ago
