Southwell Town Council agree 2.9% increase in council tax precept

A council has set its precept for the year — approving a 2.9% increase in tax.

Southwell Town Council approved the increase at a full council meeting yesterday (January 23).

The 2.9% increase — which equates to a £96.54 cost for band D properties — will allow the council to raise a total precept of £294,754.

The precept represents a significant contribution to the council’s £427,725 overall budget which is described in council documents as “broadly, a balanced income and expenditure budget”.

A total expenditure of just under £400,000 is anticipated from that budget, on services such as litter bins, public toilets, maintenance, the market, events, and council communications and administration.

Last year, the council set a 9.9% increase in tax precept, in a bid ‘play catch up’ and raise its reserves which were below the recommended level of three months operating costs, following a year with no tax increase in 2023-24 to support residents during the cost-of-living crisis.

This year, the council’s general reserves are expected to rise to £84,886, with all excess from the 2024-25 budget to be used towards this, although it remains below the £99,633 goal.

Peter Harris, chairman of the council, said: “The reserves are now healthier than they were last year.”

It was also proposed for £800 to be added to the tourism and communications section of the budget, for ‘town initiatives’, from the 2024-25 surplus.

Lyn Harris, chairman of the Town Environment committee, said: “Over the past few years there have been ideas councillors have wanted to try and we didn’t have the money to think we could progress them.

“We may not use it, but at least it would be there should something come up.”

Karen Roberts further suggested an additional £1,000 should be moved to support these initiatives, from the communications budget.

As these come under the same cost centre, the exact allocation of these funds will be decided at a later date by the committee.

In Nottinghamshire, the total council tax paid by residents is split between parish and town councils, Newark and Sherwood District Council, Nottinghamshire County Council, the Office of the Police and Crime Commissioner, and Nottinghamshire Fire and Rescue Service.

All of these authorities are currently in the process of reviewing their council tax precepts ahead the new financial year.