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Home page | 2024/25 Council for tax consultation

Home page |  2024/25 Council for tax consultation

 


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Publication date: February 6, 2024

North Norfolk County Council is consulting its residents on the 2024/25 budget, seeking views on whether the authority should increase its share of the 2024/25 Council Tax bill.

Each year, the Council sets its budget and the Council Tax collected is a source of income that funds the functions and services it provides to residents in North Norfolk.

The council collects Council Tax but only keeps 8p. from every 1 of Council Tax, with 92 e.g.

The money received from central government for local authorities is given on the assumption that Councils will increase Council Tax by the maximum amount available to them, with many authorities across the UK already proposing to increase their rates.

The council is facing budget pressures, forcing it to address an additional 700,000 and rising temporary accommodation costs as housing needs and cost of living pressures continue to rise.

The delayed introduction of legislation, which would have allowed the Council to introduce a 100% Council Tax premium for second homes, means that the 550,000 expected income during 2024/2025 cannot now be included in the budget and must be found elsewhere.

The council has a statutory responsibility to balance the budget for each financial year.

A cost saving exercise has been undertaken, identifying around 1 million savings that can be made, with a further 250,000 savings to be identified throughout the financial year. Having undergone this financial exercise, the Council is now consulting on whether to increase the Council Tax rule to bridge the budget gap.

If the Council decided to freeze Council Tax, the additional savings of £205,000 would have to be found elsewhere, representing a significant reduction in real terms as inflationary pressures on existing contracts and services, including waste and recycling and leisure contracts from the Council, are important. Any freeze on the County Council element of the Council Tax Bill is therefore likely to involve difficult decisions about potential service reductions.

For the average D-band property, this increase would represent an increase of 4.95 per year, (10p per week).

The figure of 4.95 per annum is based on a Band D property and will scale between bands for properties in Bands AD, which represents over 75 per cent of properties in North Norfolk, the increase in Council Tax will be 10p or less in week. This is still one of the lowest Council Tax rates in the country.

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Sources

1/ https://Google.com/

2/ https://www.north-norfolk.gov.uk/news/2024/january/202425-council-tax-consultation/

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