Residents in a NSW council area neigbouring the ACT could face a 40 per cent rate hike next year.

The Yass Valley Council will hold an extraordinary meeting on Wednesday, November 12 as part of its first steps towards increasing residential rate bills in the coming years.

The councillors will vote on a community consultation plan to get residents informed about the proposed rate hike.

While there are a number of legislative hoops for the council to jump through before bigger rate notices start hitting inboxes, council documents lay bare what sort of increases residents might expect.

The council has proposed three options for raising revenue in the coming years.

These include a one-year 40 per cent hike, a two-year cumulative 56.25 per cent hike, or a three-year cumulative 58.7 per cen

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