Why are the rates so damn expensive?

I'd like to know why are the rates so expensive? (Council rates)

Also the property still seems to be over valued also? (Based on the last 2 years real estate reports vacancies are still rising as people are leaving the town) Although coming back down to realistic levels, I think people are still trying to (obviously) not lose much when they've bought either during the mining boom or just after it.

The couple of reports I've read around the place (2014 and 2015) for Mackay provide stats that the vacancy rate has been rising and hit just under 11% currently and increasing through to at least the end of 2017 or beginning to mid 2018.