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Monday, April 22, 2024

Redbridge Council tax increase

Council tax in Redbridge is set to cost the average household more than £2,000 for the first time.

The tax hike, confirmed in Redbridge Council budget papers yesterday (12 February), will mean households in band D properties are charged £2,098.87 next year, or about £174.15 per month.

This is an increase of the council’s share of the tax by 4.99%, or £76.86 per year.

About three quarters of the overall council tax bill charged to residents goes to Redbridge Council, with the remainder paid to the Mayor of London.

While government rules mean the council cannot raise its share more than 4.99% without holding a local referendum, there is no cap on the Mayor’s increase – which will be 8.9%.

The local tax increase comes as the council struggles to balance an increasingly tight budget, with an estimated budget gap of £43-£74m in the next four financial years.

According to the council budget report, Redbridge has been “buffeted” by the cost-of-living crisis, high inflation and high interest rates.

The council report also notes that due to cuts in government funding since 2010, council tax has become an “increasingly larger proportion” of its income.
The government’s yearly funding package for English councils, confirmed last week, includes an “assumption” that council tax will increase by the maximum amount.

On 5th February, the government confirmed that Redbridge Council will see its share of funding rise by 9% to £122million.

Government funding will make up about a third of the council’s £269million budget for 2024/25, with the remainder coming from council tax income.

However, this does not include income from other sources such as commercial properties and parking charges.

A spokesperson for council leader Jas Athwal has been contacted for comment.

The council’s overview and scrutiny committee is due to scrutinise the budget at a meeting on 19th February, ahead of a vote at full council on 29th February.

To read the budget proposals in full, click here: Redbridge Council

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