Minimum Rates

A minimum rate is imposed when the amount calculated by the formula (How are rates calculated?) is less than the amount determined to be the equitable minimum cost of servicing lots in the City of Vincent. General rates and minimum payments are levied to meet the budgetary costs of the City of Vincent to provide services and complete projects within its boundaries during the financial year.

In 2017/2018 the City of Vincent has introduced Differential Rates. A minimum rate of $1414.00 applies to Vacant-Commercial Land and a minimum rate of $1100.00 applies to all other rateable land. 

Vacant-Commercial properties with a Gross Rental Valuation of less than or equal to $11556 will be charged a minimum rate of $1414.00. Commercial/ Industrial properties with a Gross Rental Valuation of less than or equal to $16952 will be charged a minimum rate of $1100.00. Residential properties with a Gross Rental Valuation of less than or equal to $17491 will be charged a minimum rate of $1100.00.