Brisbane City Council Budget 22/23

Brisbane City Council on 15 June released its 2022-23 budget which aims to help Brisbane continue to bounce back from the impact of the floods and the pandemic and address growing concerns around housing affordability. 

Rates
The $4 billion budget contains a 4.93 per cent average rate increase for residential owner-occupied properties. Residential owner-occupied properties will remain subject to a cap on rate increases to limit the impact of fluctuating property valuations.

Commercial properties will see an average 4.97 per cent increase in rates, however given the minimum and differential rating system employed by Council, we encourage members to check the extent of the rises on each individual property.

Council has moved to introduce a new ‘transitory accommodation’ rating category, that will see a 50 per cent rate increase on properties offered for short-term rental accommodation through online platforms such as AirBnB and Stayz. This measure is being introduced in an effort to address rental vacancy concerns across Brisbane, and will rely on self-reporting, community participation and online research to identify affected properties.

As part of the budget, Council has also announced a $1000 rates rebate for flood-affected property owners who are yet to return to their homes. In total the floods are estimated to have impacted the budget by ~$330 million, with COVID  responsible for a ~$220 million impact on the budget.

Suburban Precinct Planning
Council also announced a new Suburban Renewal Precincts planning initiative in an effort to identify further land that is appropriate for new housing supply. The initiative will focus on areas that are currently zoned as commercial and/or industrial that may be co-located with public transport and would be suitable for mixed-use development.  

In a budget first, the Lord Mayor announced Council’s ‘Suburbs First Guarantee’ which involves an ongoing commitment to a minimum of 80 per cent of all Council spending directed to the suburbs. 

Other key points include: 
A $1.35 billion dollar investment in infrastructure, including:

  • $13.8 million to progress the development of Victoria Park/Barrambin
  • Over $260 million for the Green Bridges program including the Kangaroo Point and Breakfast Creek green bridges
  • $288 million to progress construction of Brisbane Metro$131 million to spend on drainage across Brisbane suburbs (double last year’s spend)
  • $130 million over 2 years on the Moggill Road Corridor Upgrade project
  • $60.6 million for the Beams Road project - Carseldine$46.1 million for the Gardner Road project - Rochedale
  • $27.6 million to restore the Brisbane River ferry network$83 million to resurface nearly 400 suburban streets$60 million for restoring flood damaged bikeways
  • $53.4 million restoring flood-damaged parks and playgrounds
  • $35 million for footpaths
  • $505 million over 3 years to rebuild Brisbane’s assets following the 2022 flood event
  • Council will also seek to progress a Gold CityGlider route between Northshore Hamilton and the Gabba ahead of the Brisbane 2032 Olympic and Paralympic Games.

As previously flagged in the media, due to February’s flood event some infrastructure projects will be placed on hold. This includes pausing the two Green Bridges for West End, the Enoggera Precinct Plan and stage five of the North Brisbane Bikeway. The development of the Green Bridges at Kangaroo Point and Breakfast Creek will continue.

Council has also announced that kerbside collection will return this financial year.

The Brisbane City Council budget remains balanced with a neutral outlook.

To view the full detail of the Council budget, please click here.