Last week, the Journal reported that some residents had received rate increases of hundreds of dollars, with one pensioner being hit by an increase of more than $400.

Cr Geoff Lake said the council was looking at providing relief, particularly for pensioners.

"We are looking at ways to see if some of the significant fluctuations can be smoothed out because we think it's grossly unfair that from one year to the next someone can be hit with a huge increase."

The council is looking at relief options, including low-interest, deferred payment schemes and complete deferral options with rates recouped when the property is sold.

It is also looking at cutting the 12 per cent interest applied to deferred rates.

"To my mind, applying 12 per cent is an unconscionable rate of interest," Cr Lake said.

"I'm currently waiting on further advice from council officers about the potential of council introducing a deferred scheme based on either an interest rate which approximates CPI or an interest rate only nominally above CPI."

Monash Ratepayers Association president Jack Davis has labelled the council's efforts "ridiculous".

"They haven't come up with a solution at all. Those options suggested have been on the books for years now; it's nothing new."

Monash Mayor Paul Klisaris said he was not aware of Cr Lake's proposal but he would support any "fair and reasonable" measure that would "take the pressure off residents trying to balance the budget".

This month, Cr Klisaris wrote to Premier John Brumby and Local Government Minister Richard Wynne, calling for a review of the Government's council rating framework, including consideration of a cap on rate rises after a property revaluation. "At the end of the day, if the State Government doesn't get serious about its approach it won't be Mt Waverley that suffers next time, it will be another pocket of the city," the mayor said. "That's why we need answers to this problem ASAP."

Monash Ratepayers Association is inviting residents hit by large rate rises to join a protest at the council meeting at Mulgrave Community Centre, 355 Wellington Road, Mulgrave, at 7.30pm on Tuesday.