Brisbane residents could see their rates rise more than usual in June if the new Queensland Treasurer does not agree to the state's bank lending Queensland Urban Utilities $1.49 billion.

In 2010 Brisbane City Council and four other councils loaned QUU a combined $1.49 billion in order to create the organisation and have it run their water and sewerage services.

As QUU's biggest backer, BCC's share of the loan was $1.241 billion.

Now it needs the money back.