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Proposed town budget sees possible 3.5% increase in precept

By newtown.wales

3 weeks ago

News Politics Budget 23

A meeting of Newtown & Llanllwchaiarn Town Council to be held on 10/01/23 at 18:30. All meetings are held in public and members of the public are welcome to attend online.

  View the meeting on Microsoft Teams »

The proposed town council budget for the next financial year sets out a rise of just over £27,000 in the local precept, resulting in an increase on your council tax bill.

Town councillors are being asked to accept a recommendation to set the precept for next year at £809,708, an increase of 3.5% on the previous year.

Newtown & Llanllwchaiarn Town Council are holding a special meeting next Tuesday (10th January 2023) to discuss the budget and precept for the upcoming year.

The £27,381 rise in precept equates to a council tax increase for a Band D household of £2.42 per year.

This recommendation is much higher than the third draft budget, considered by councillors in December which only had a rise in precept of just under £8,000. It appears that the rise is neccessary to ensure that general reserves are kept at approximately £195,000 to comply with the town council's Reserves Strategy.

Proposed changes in terms of yearly charge per band per household

Year Band A Band B Band C Band D Band E Band F Band G Band H Band I
2022/2023 £119.03 £138.86 £158.70 £178.54 £218.22 £257.89 £297.57 £357.08 £416.59
Final Draft 2023/2024 £120.64 £140.75 £160.85 £180.96 £221.17 £261.39 £301.60 £361.92 £422.24
Change £1.61 £1.88 £2.15 £2.42 £2.96 £3.50 £4.03 £4.84 £5.65
 

  What is Council Tax and how is it worked out?

Council Tax is paid by households based on the value of their property. The amount you pay is decided by three organisations - Powys County Council, Newtown & Llanllwchaiarn Town Council and the Police & Crime Commissioner.

Each organisation sets a budget which is divided by the number of properties in an area. The town council and police portions are called a precept. It is then collected by Powys County Council and paid to the three organisations.

To view your personalised breakdown of council tax for your property, sign up for a newtown.wales account and click on the 'View breakdown' link on your account page.

The budget as presented includes a movement from financial reserves of £104,454 to plug a funding gap between income and expenditure along with an additional £14,000 in other income, resulting in a total expenditure budget of £928,162.

The full council is likely to approve the rise at a special meeting next Tuesday.


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