Work is currently underway to identify financial savings that can be made in current budgets to minimise the impact to ratepayers across the borough, according to Mid and East Antrim Council.
It comes as a number of other hardstrapped Northern Ireland councils are understood to be looking at the largest rates rises ever to cover budget shortfalls due to energy and other costs spiralling to historic highs.
In a recent committee meeting of Antrim and Newtownabbey Borough Council, members heard that energy costs alone are forecast to be £2,503,564 above those forecast. A report to council stated:
"The issue of energy use across the Council estate has become increasingly critical in view of the challenges presented by current energy market volatility."
It is understood Councils across Northern Ireland are facing "pressures of an estimated £85-90million for the 2022-23 financial year".
A report published this morning (Wednesday 5 October) in the Belfast Telegraph, suggests Belfast City Council is looking at a rates rise of 12.5 per cent.
The latest crisis hitting local government funding will come as another concern for hard pressed householders as council officials navigate budgetary challenges, and look to ratepayers as a one source of income.
Commenting on the current situation, a spokesperson for Mid and East Antrim Borough Council said:
“Council has been working for some time on the rates setting process for next year.
“Council’s approach is always to ensure the impact on ratepayers is minimised, while at the same time maximising the resource at its disposal to ensure vital support is available to the community and businesses, and that investment can be delivered as required in the Borough, its infrastructure and Council services.
“Council is currently working to identify and realise savings to existing budgets to meet next year’s anticipated financial demands and - as best it can - mitigate the impact on the rates process. No specific figures have yet been proposed or agreed.”