Colac Otway Shire Council is providing dairy farmers who pay their rates in lump sum, with an extension in the new year.
Penalty interest for lump sum payments will be waived, if they are received up to June 2017.
Lump sum payments are usually due by February 15 each year.
The interest waiver will only apply to dairy farmers, who will be required to produce a dairy licence to avoid penalty interest being charged.
Mayor Chris Potter said Council understood the situation, with many dairy farmers under immense pressure.
“The price drop and clawback was a shock to everyone in the industry, and we hope this payment extension and interest waiver will give our local dairy farmers more time to factor their rates bill into their cash flows,” he said.
Anyone wanting to discuss their rates or other financial matters can contact the Council’s rates department on 5232 9400 to explore what options might be available to them.