The draft, which will be tabled at Tuesday's council meeting, reveals a 28.5 per cent jump in rural land values, meaning farmers will bear the brunt of a 3.5 per cent rise in rates - the maximum allowed.

On average, farmers' bills will jump from $4748 to $5170, including $395 in extra rates, waste management ($19) and municipal ($7.30) charges.

With the outcome for ratepayers depending on the valuation of their property, the overall impact (including municipal charge and waste management charge) to an average residential payer will be an increase of $3.97 or 0.3 per cent.

In total, the proposed draft budget includes a 4.27 per cent increase in rates and charges which partly results from a 4.85 per cent increase in the waste management charge, which would see the average cost for each household rise from $392 to $411.

The planned increase not only reflects the impact of inflation on the costs associated with the service but also the upcoming introduction of a new kerbside glass collection service.

Rates and charges are expected to account for 47 per cent of the council's revenue.

Meanwhile, the budget's projected $37 million expenditure is 9.6 per cent down on the previous year.

The proposed draft budget also includes a $3.79m operating surplus and a $16.99m capital works program, which is a similar-sized allocation to the previous year.

However, the program for the 2023-2024 financial year will not include a buffer for inflation and unexpected costs.

More than half of the proposed capital works budget will be spent on roads - $9.445 million - including rehabilitation, strategic local road upgrades, re-sheeting and resealing.

A further $3.046 million will be spent on waste management - including investment in the Naroghid landfill site to accommodate for increased volumes - the implementation of an upgraded layout at the Timboon transfer station and the upfront costs of bins for the new kerbside glass collection service.

A total of $1.070 million will also be spent on bridges, including culvert replacement and upgrades at Smyth Street and Maddens Bridge Road.

An additional $1.860 million will be spent on plant and equipment, including the ongoing cyclical replacement of vehicles.

Salary and wage expenses are projected to decrease by a total of 0.41 per cent. The council made a decision in January to exit from the home care service provision with an effective date of June 30. The exit from the service is expected to reduce the salary and wage expenses by $1.32 million.

If approved by councillors tomorrow night, the draft budget will go out for public comment for two weeks.

The draft budget - with any revisions - will then be presented at the June council meeting for adoption.

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