Rates heading up, especially in Maitland

Maitland City Council can raise its residential rates by 5.9 per cent next financial year. File picture

Home owners in Newcastle and Lake Macquarie face a 3.7 per cent jump in council rates next year, but the hike could be much higher in Maitland and Port Stephens.

The Independent Pricing and Regulatory Tribunal has set its council rate peg for the 2023-24 financial year at 3.7 per cent, well above the usual cap of about 2.5 per cent.