A more sustainable long-term financial future is now within reach for North Sydney.
North Sydney Council welcomes the Independent Pricing and Regulatory Tribunal’s (IPART) approval of its application for a Special Rate Variation (SRV) which will see a 52.66 % increase over three years.
The decision follows a detailed review of Council’s finances, infrastructure needs and service priorities, along with community input from residents, businesses and stakeholders.
Mayor Zoë Baker said the approval would help Council respond to growing infrastructure needs while maintaining essential services and continuing to strengthen how Council operates.
“This approval is an important step towards restoring Council’s long-term financial sustainability and ensuring we can continue to provide the infrastructure, services and public spaces our community relies upon,” Mayor Baker said.
“The primary focus of the SRV is infrastructure renewal and reducing asset backlog, while also supporting improved systems, governance and service delivery into the future.”
Council commits to using new funding responsibly
Over the past three years, Council has implemented governance, financial and operational reforms to help minimise the impact of rate increases on the community.
Chief Executive Officer Therese Cole said the approval would support Council’s continued transition to more proactive and sustainable management of its assets and services.
“This decision provides Council with greater capacity to address infrastructure renewal needs, improve organisational systems and continue delivering better long-term outcomes for the community.”
Significant savings already made by Council
Council’s Productivity and Improvement Plan has identified savings and new revenue, reducing the need for a larger rate increase while reinforcing Council’s commitment to careful financial management and transparency.
“Council understands the impact any increase in household costs can have on residents and businesses,” Mayor Baker said.
“We remain committed to responsible governance, ongoing productivity improvement and ensuring these funds are directed towards the long-term sustainability, liveability and resilience of North Sydney.”
Council will now update its Long-Term Financial Plan and Delivery Program to reflect IPART’s determination and proceed with implementing its financial sustainability pathway.
Read more about IPART’s decision and what it means for you: Special Variation to Rates – North Sydney Council
Read IPART's Final Report: Final Report - North Sydney Council - Special Variation and Minimum Rate 2026-27 | IPART
Read all documents related to IPART's decision, including Council's submission: North Sydney Council | IPART