The Canberra Liberals have promised to implement a 2.2 per cent cap on residential rate rises if they win the ACT election in October.
Opposition Leader Elizabeth Lee said she expected Canberrans would be, on average, nearly $2000 better off during the next four years.
The 2.2 per cent cap is based on the 10-year average of the wage price index.
"What we're proposing is that we are putting a cap on rate increases in the first term of a Canberra Liberals government," she said.
Ms Lee has also said a Liberal government would establish an independent valuation office to calculate the unimproved value of blocks in the capital.
Average unimproved values are used by the government to determine how the collection of rates is distributed across Canberra households.
The Canberra Liberals leader has also confirmed the party would continue to phase out stamp duty if elected but will determine whether it will be able to meet a 2032 deadline set by the current government.
"It's clear that the Labor-Greens government is unlikely to meet that deadline that they had imposed on themselves in terms of the tax reform agenda," Ms Lee said.
"So whilst we are committed to phasing out stamp duty, we will have to look closely at the state of the budget when we get into government and make a decision about the timeframe."
The ACT is more than halfway through a 20-year program to phase out stamp duty and replace the lost taxes with revenue from residential rates.
This program is split into four phases, in the current stage residential rates rise by an average of 3.75 per cent a year. Under the current plan this is expected to stay in place for another year.
But the 3.75 per cent average is not applied to individual's rates bills. Some households are expected to receive up to a 9 per cent hike in their annual rates this year's budget shows.
The 2.2 per cent proposal from the Liberals would apply to all households.
Ms Lee said an analysis showed rates bill had increased, on average, by 6 per cent annually during the past decade.
The ACT government will collect a total $522.5 million in general residential rates in 2024-25, up from $494.4 million in 2023-24. This represents about nearly one-fifth of the government's own-source revenue for the year.
The government is expecting to receive $230 million in residential stamp duty taxes in 2024-25, down from nearly $255 million in 2023-24. This was $25 million higher than initially forecast.
It's the first major economic policy announced by the Liberals and follows the delivery of the ACT budget on Tuesday.
The Liberals have also promised a $65 million cost-of-living package, which includes $150 vouchers for parents for school-related expenses, a $100 car registration rebate and a $50 rebate on electricity bills. This would apply to all households.
Ms Lee is due to give her budget reply on Thursday afternoon.
The Liberals promised to freeze residential rates for four years at the 2020 election.
The opposition has been critical about the levels of debt and the deficit in the territory's budget, accusing Chief Minister and Treasurer Andrew Barr of fiscal mismanagement.
Ms Lee said it was difficult to determine whether the Liberals would be able to deliver a surplus in their first term. She said a Liberal government would undertake an audit of the budget and there was work ongoing on a broader economic policy.
She also said the party would look at what revenue they could receive from land releases.
"Over the last number of years, we've been talking a lot more about land releases and so there's a lot more in that space that we're looking at," Ms Lee said.
"We're looking obviously very strongly in that space, in terms of some of the offsets that will be looking at to make sure that we make up any potential lowering of revenue."
But the road to a surplus will be even harder for a Liberal government, with Ms Lee confirming she would adopt a different reporting standard for the budget, which is used in other states and territories.
The territory measures its budget using a different framework than other states and territories, which use the uniform presentation framework.
The ACT's main budget measurement does not include the territory's superannuation liability when measuring its deficit.
This is the income earned on the territory's superannuation investments but it is not able to be used in budgeting - it can only be used to pay superannuation pensions to retired ACT public servants.
The ACT does not include this because it said there was a unique situation in the territory where it was obligated to pay some former public servants a Commonwealth defined benefit superannuation scheme.
Under this measurement, the ACT's deficit is more than $1 billion, budget papers show. Excluding this, the deficit is $830 million.
