How are rates calculated?
Maribyrnong Council uses the Net Annual Value (NAV) system to determine its property rates which is the fairest system for the ratepayers in our City. Council begins by calculating a new valuation or Capital Improved Value (CIV) of a property. The CIV is the site value plus any improvements to the land (ie. structures such as a house / garage etc).
Your final loan interest rate and APR may be different from what you see on the Bank of America.com website. • The “as low as” rates/APRs are based on high credit ratings, loan amount, and new vehicle purchases. • Your interest rate will be determined based on your credit rating, approved loan amount and your vehicle purchase. APR is the total cost of credit to you, expressed as an annual percentage rate on the amount of credit granted. Your final APR may differ from your loan interest rate due to additional fees (such as a loan documentation fee) that may be applicable. Assume you will borrow $45,000 and there is a $200 loan documentation fee, for a total loan of $45,200. The calculated APR on a 7-year loan with a loan interest rate of 9.50 % would be 9.642% with payments of $738.75.
Rates are based on the actual cost to collect, transport and treat wastewater from all users within the District’s service area. In determining the proposed new rates, the District considered alternative means of financing the improvements. An independent financial study was done in connection with the proposal explored all avenues of financing, including revenue from current rates, reserve funds, debt financing and raising rates.
