"Kensington and Chelsea council said it was a decision they've made reluctantly due to the Government's Fair Funding Review, which aims to reform council funding. Labour has said it wants to use the reviews to syphon off funds from affluent councils and towards more deprived ones. By introducing a council tax premium, the average second homeowner in Kensington and Chelsea an average band D property, would pay bills of 3,184."
"Cllr Campbell said that the loss of this income, alongside rising costs of delivering council services, means that councillors will have to pull in savings of 130m over the next four years. According to the council's draft budget papers for 2025-26: Given the financial position the Government's funding cuts have put the council in, we are now also reluctantly considering charging a council tax premium on second homes within the borough as well as exploring difficult options around reducing our council tax reduction scheme."
Council tax on second homes in Kensington and Chelsea is set to double amid funding pressures. The borough contains 7,898 second homes, more than any other London borough. The change responds to reductions and reforms from the Government's Fair Funding Review and potential redistribution of funds toward more deprived areas. Introducing a council tax premium would raise average bills for a band D second home to £3,184. The council says rising service delivery costs and lost income require £130m of savings over four years. Draft budget papers confirm consideration of a second-home premium and possible reductions to the council tax reduction scheme.
Read at www.standard.co.uk
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