So, article says property prices up a lot the last few years, yeah, I heard that.
Rates will also hike, which is a rort. A house Rates Valuation increases, more or less in line with market values, by lets say 40%, why should rates rise 40%? Its a number, and it should be used to fairly spread the rating load across the population, but its used as an excuse to hike rates. It should be Rate Income / House population, then the percentage of property value compared to another property can charge more for higher value homes, and less for less. I don't recall inflation going up 40% or more in the last 3 years.
If house population grows, so does rate revenue. If house prices are stable, and there is inflation, rates can increase a small %. But, it's currently a rort