Council tax is a local tax to help pay for local services. These services include police and fire services, upkeep of local roads and street lighting, drainage, etc
The amount of council tax you pay in is graded, dependent on the value of your home. The value of your home is set based on the capital value of your property at 1 April 1991.
The amount of council tax you have to pay depends on which of the eight valuation bands your home is in. The higher value the home, the greater your council tax bill will be.
The bands are set out on the website run by the Borough in which you live in. The exact amount you pay will vary parish by parish because of changes in parish precepts, etc.
Your property’s current banding is detailed on your council tax bill but if you want to check the council tax property band you can check it on the Valuation Office Agency website.
There are various exemptions that apply to council tax. They are;
If you are the single occupier of a property then you are currently entitled to a 25% reduction in your council tax bill. If you are a tenant on a limited income you may be entitled to help towards paying your annual council tax bill. Council tax support is means-tested, which means it is calculated by taking into account your income, capital and household circumstances.
For full details of what support you may be entitled to visit your borough's website.
Related articles:
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
The Bank of England Governor, Andrew Bailey, has advised that, due to the “very big energy shock” the economy is facing, they won’t be in a rush to increase UK interest rates.
Many homeowners don’t realise that a simple act or oversight could invalidate their home insurance policy. Home insurance is essential in protecting your most valuable assets; however, it is important to understand what affects your cover to ensure you are fully protected.
In certain areas, impressive views are one feature that buyers are willing to pay price premiums of more than 30 per cent.
The UK mortgage market is seeing lenders withdraw deals and hike mortgage rates amid the escalation of conflict in Iran. This isn’t great news for borrowers, with the average rate for a two-year fixed deal sitting above 5%.
Statistics now show that those looking to purchase a property would have to save a deposit bigger than their annual gross pay.
Analysis from the Office for Budget Responsibility (OBR) shows that those looking to buy their first home could face a sharp increase if house prices follow the latest predictions, as Coventry Building Society suggests.
According to Zoopla, four in 10 homes are now cheaper to buy with a mortgage than to rent due to lower-cost mortgages - a sign that ownership is becoming more affordable.