Yes, rates are going up. Here's what it means for you

The largest rates hike for house owners will be in Dunlop, where average annual rates will rise 7 per cent.

Meanwhile unit owners in Forde can expect an even bigger increase to their annual notice, with average rates up 9 per cent.

The changes to residential rates were released as part of the territory budget, unveiled on Tuesday afternoon.

The ACT government will collect a total $522.5 million in general residential rates in 2024-25, up from $494.4 million in 2023-24.

The almost 6 per cent increase comprises a 3.75 per cent rise in total rates collection for existing households, plus an increase of about 2 per cent due to new properties, reclassification of homes and lease variations.

Residential rates have increased by 3.75 per cent each year under Chief Minister Andrew Barr's tax reform program, announced in 2020.

But where you live will determine exactly how much your annual rates bill will increase in 2024-25.

Use the interactive map below to search for your suburb, or view it on a table further down this article.

The ACT government uses average unimproved values to determine how the collection of rates revenue is distributed across households, which it says helps deliver fairer outcomes.

It means a house owner in Forrest, where unimproved values are the highest, will pay an average $13,374 in rates, compared to a house owner in Macgregor, where annual rates are the cheapest at $2212.

Valuers analyse sale prices of similar properties, and vacant land where possible, to determine unimproved values of each block.

Average residential rates for houses in Dunlop will increase by 7 per cent in the upcoming financial year, taking average annual rates to $2319.

Four suburbs will see a 6 per cent increase in general rates for houses, including Duffy, Amaroo, Bonner and Jacka.

Forrest house owners will see their annual rates bill rise from $12,722 to $13,374, an increase of 5 per cent.

GET ACROSS THE WHOLE A.C.T. BUDGET:

Another 21 suburbs will see rates for houses increase by 5 per cent, while rates in about a third of suburbs will rise by 4 per cent.

Three suburbs, Barton, Denman Prospect and Greenway, will see rates remain practically unchanged.

Unit owners in Forde will see the biggest increase of any Canberra suburb, with annual rates up 9 per cent to $2314.

Yarralumla unit owners will pay the highest rates, which will rise 7 per cent to $5437 for the upcoming financial year.

Another eight suburbs will see average rates for units rise by 7 per cent including Bonner, Jacka, Isaacs, Deakin and Garran.

Unit owners in Coombs, Strathnairn, Denman Prospect and Parkes will see the smallest increase in rates, up just 1 per cent.