Brisbane ratepayers have been hit with a 2.5 per cent rate rise, or an extra $40 per year, as part of the 2018-19 budget.

Lord Mayor Graham Quirk says the extra $10-per-quarter will deliver on the important issues of infrastructure, liveability and lifestyle.

It comes five weeks after Lord Mayor Graham Quirk ended speculation and confirmed he would nominate to run in the 2020 Brisbane City Council election.

Pensioners and part-time pensioners will be eligible to remission on their rate bills.