A RATE increase for Tamworth businesses needs to be directed to attracting major events to the city and not subsiding current ones, a business leader has said.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The Tamworth Business Chamber has confirmed it will work with Tamworth Regional Council on the consultation process for its proposed business levy, but says the levy must be used to attract new events.
Late last month, Council proposed a special rate variation which would see business rates increase by three per cent per year for three years.
The additional money would be used to attract special events to the region.
The plan was approved by councillors, but must be approved by the Independent Pricing and Regulatory Tribunal (IPART) in order for it to begin in the 2019/2020 financial year.
Read more:
Tamworth Business Chamber president Jye Segboer said the framework of the levy was key to the consultation process.
“It’s the next big thing we are working on, consulting with the local business community around that proposed levy,” he said.
“It is still in the proposal stage, but we want to get the framework right and what the funds will be utilised for.
“We want to ensure that this is about attracting new events to the region and not subsiding the existing events that we have through a levy.”
Mr Segboer said the rate rise would have to be approved by IPART before council would open a consultation period on the rate increase.
“Chamber will help facilitate this with council,” Mr Segboer said.
“It is important to get a clear understanding from the business community about what their concerns are.
“It’s important for them to have an open mind about the reasons behind the levy and attracting new events which everybody can benefit from.”
He said the Chamber would not have an official position on the levy until the consultation process was completed.
“It’s ensuring the funds are there for new events and not offsetting any current financial losses that Tamworth Regional Council occurs from any other events like the (country music festival),” he said.
“It’s about attracting new businesses to the community.”
Documents have shown, if approved, council would have $600,000 in additional revenue by the third year of the events levy with rates sitting at an average of $3954.
