Brisbane ratepayers will face an above-inflation rate rise of 3.8 per cent next financial year under Lord Mayor Adrian Schrinner's first budget since winning re-election in March.

Mr Schrinner handed down a $4 billion budget on Wednesday, as he also announced plans to overhaul the way short-stay accommodation is regulated in Brisbane by introducing a permit scheme.

The average rates hike of 3.8 per cent for owner occupiers is slightly above Brisbane's most recent annual inflation rate of 3.4 per cent – and means the average bill will increase by about $2 per week.

In his speech to the council chamber, Mr Schrinner described the increase as an "extraordinary result in the current climate".

"Of course, this follows an increase of just 3.45 per cent last year, which was well below the 5.4 per cent average of our neighbouring south-east Queensland council," he said.

"Without that plan, rates today could have increased by as much as 32.6 per cent."

At an earlier press conference, Mr Schrinner indicated the difference between a 3.4 per cent increase and a 3.8 per cent increase was only an extra $3 to $6 on an annual rates bill.

Council fees and charges will also increase, on average, by 3.8 per cent next financial year.

The total size of the 2024-25 budget will come in at about $4 billion and includes an infrastructure spend of almost $1 billion.

Net debt for the 2023-24 financial year is expected to be about $3.49 billion, before climbing to $3.7 billion in 2024/25 and then dropping to $3.64 billion in 2025/26.

In response to the budget, the Labor opposition noted revenue from rates and utilities charges was expected to climb by $83.4 million – or 5.8 per cent – in the next financial year.

Council Opposition Leader Jared Cassidy suggested the 3.8 per cent rates increase would "add to the cost-of-living crisis".

He also pointed out capital expenditure across various programs in the budget was declining in 2024-25 compared to the previous financial year.

"This week we have seen the state government offer some of the biggest cost-of-living measures we have ever seen on one day, and a council slugging people with massive rates rise on the next," Mr Cassidy said.

"Residents are paying more and getting less. Debt levels have never been higher, rates have never been higher but services and project investment have never been lower."

New permit scheme for short-stay accommodation

Mr Schrinner also unveiled the findings of a taskforce he established last year to investigate the short-stay accommodation market in Brisbane.

The lord mayor confirmed his council would accept the taskforce's recommendations, including a proposal to introduce a permit scheme under a new local law.

The proposed permit changes — which would need state government approval — require owners to nominate a property manager to be available seven days a week to respond to complaints.

Property owners who lease their home on the short-stay market would also need to prove they have planning permission before being granted a permit.

It also means home owners in low-density residential zones would likely be barred from getting a permit and leasing their property on platforms such as Airbnb.

Mr Schrinner said the council has estimated that at least 420 homes are being used for short-stay accommodation in low-density Brisbane suburbs that would not meet those planning requirements.

"While a large part of regulating short-stay accommodation falls outside the jurisdiction of local governments, I hope we can work with the state government to introduce sensible changes," he said.

The council introduced a rates surcharge on short-stay properties two years ago, which will continue in the next financial year.

Mr Schrinner indicated the permit would come at a cost, but the council was yet to determine what that would be.

Cheap summer swims to continue

The budget features measures that Mr Schrinner took to the March council election, including the continuation of $2 pool admission this summer.

The lord mayor said the council would likewise back another election commitment by seeking expressions of interest to find new traffic management technology for the city’s roads.

“By utilising smart technology, including artificial intelligence, we have great potential to get our roads and buses operating more efficiently,” he said.

Mr Schrinner revealed the council would pause its food waste recycling trial – arguing that the program "costs so much and delivers so little".

The council had been trialling food waste recycling since 2022 in certain parts of the city using existing green bins.

Mr Schrinner told the council chamber an analysis of the program had found only about 4 per cent of the waste collected in green bins was food scraps.

"While processing regular green waste costs just $7.80 a tonne, processing green waste that includes food scraps increases nearly twenty-fold to $150 a tonne," he said.

"So expanding Brisbane’s food waste recycling service to all 156,000 households with a green bin would cost council about $20 million a year."

Mr Schrinner said the council would launch a “detailed investigation” into less costly ways to reduce the amount of waste being sent to landfill.