Town tax may rise by 5%
The cost of services provided by Newark Town Council this year are set to rise at nearly twice the rate of inflation.
Its portion of the council tax is expected to rise by 5% for Band D properties.
The proposed increase means the parish rate will increase from £92.47 to £97.09 from April 1.
The town council’s finance and policy committee chose not to debate the budget at a meeting on Wednesday but forwarded it to the full council meeting on February 20, when the final budget will be decided.
The town clerk, Mr Jim Hanrahan, estimates a projected net expenditure of £818,885 next year.
Council tax will raise £811,800 of this total, with the rest coming from revenue balances and income such as allotment rents and rental fees from the Town Hall.
Mr Hanrahan said the higher increase was necessary because of an inflation in costs such as insurance, which has risen by 7%.
Included in the budget is a reserve of £40,000 to buy this year’s Christmas lights.
For the past five years the council has rented the lights in an agreement with a Lancashire company, Lite, at a similar cost each year.
The council will spend £216, 545 on staff salaries and wages, £16,710 on the mayoralty and civic functions, £23,500 on its arts and entertainments programme, £1,450 on twinning and friendship events, and £21,285 on maintenance and upkeep of the Newark Cemetery.
Nottinghamshire County Council’s portion of council tax is set to increase by 3% from April to help pay for increasing costs of its services.
That would cost a household in Band A an extra £22.50 a year, Band B £26.24 a year and a Band D home £33.74 a year.
A decision will be made on February 28.
Newark and Sherwood District Council is due to set its council tax levels in March.