Decision - Council Tax premiums on second homes

Billing Authorities intending to adopt any changes arising from the Levelling up and Regeneration Bill are required to declare their intentions at least 12 months prior to the financial year in which the changes come into effect.Approval, in principle, was obtained by P & R committee and full council in February 2023 to consideration of introducing a 100% discretionary premium on second homes, subject to the recommendations of an officer report to Policy & Resources committee (now SFCR committee) as soon as practical following Royal Ascent of the relevant legislation. Royal ascent was obtained 26th October 2023. Approval must be obtained by committee and full council by 31 March 2024 to come into effect 01 April 2025

92.1 The report was introduced by the Chief Financial Officer, who gave the comparison on council tax on long term empty homes and 2nd homes. 92.2 The Committee were asked to note the urgency of the report and agree pool space and get planning consent. . 92.3 The Committee were asked to note the following: · The independent inquiry · Formal Apology · Approve the recommendations in the report · Give delegated power to HR and OD Director to terminate the current procedures. 92.4 Councillor Sankey spoke on the matter. Resolved 2.1 That the Strategy, Finance & City Regeneration Committee approves the proposal to apply the current 100% premium applicable to long-term empty and unfurnished properties after one year instead of two years from 1 April 2024 as permitted by the Levelling Up & Regeneration Act 2023. 2.2 That the Strategy, Finance & City Regeneration Committee recommends to full Council that it formally approves the recommendation that a new 100% Council Tax premium be applied to empty furnished properties (second homes) from 1 April 2025. Full Council: 2.3 That full Council adopts the recommendation of Strategy, Finance & City Regeneration Committee at para 2.2 above and formally approves the recommendation that a new 100% Council Tax premium be applied to empty furnished properties (second homes) from 1 April 2025.

The report proposed applying a 100% council tax premium to long-term empty and unfurnished properties after one year instead of two from 1 April 2024. It also proposed that Full Council approve a new 100% premium for furnished second homes from 1 April 2025, which is expected to raise additional revenue.