Councils have won a bid to dramatically increase their rates for thousands of homeowners across NSW.

IPART (The independent Pricing and Regulatory Tribunal) approved the massive rate hike, which will in some cases be an increase of more than 50 per cent, and see $579.2 million flow into local government coffers.

Georges River and Canterbury-Bankstown in Sydney are among the eight councils given special exemption to go above the two per cent increase.

Acting chair of IPART Deborah Cope told Jim Wilson “it’s a really, really complex and difficult question, and not one we do lightly.”

“We understand that it’s a really difficult time for ratepayers, but it’s also been a difficult time for councils, and getting the balance right is really important,” she said.

“If we don’t have enough money councils don’t get the parks, the road, the footpaths that they want and they need.”

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