Gold Coast City Council will hand down its annual budget this morning, confirming just how much extra ratepayers will have to fork out.

In some good news, rates are expected to remain below CPI for yet another year despite the current cost of living crisis.

There are reports rates could increase by 4.2 or 4.3 per cent from July 1.

The 2024 budget is also expected to include a record capital works program to fund some of the city’s biggest projects.

They include Stage Four of the Light Rail, Greenheart in Robina, a new boutique indoor stadium and a new theatre at HOTA.

Mayor Tom Tate says low rates have always been a priority for the city.

“For the last twelve years, we have delivered our budget for principal place of residence, rates at or below CPI,” the Mayor said.

“And I expect that the principal place of residence of which we consider as our benchmark, that it will be below annual CPI.. that’s my source”.

The budget will officially be unveiled at 9am on Friday.

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