Band ‘D’ taxpayers in Mid Suffolk will see an increase in their council tax bill of just under 6p after the district authority set their budget for 2016/17.
But a spokesperson said more than half of residents live in Band ‘A’, ‘B’, and ‘C’ properties, and will see a smaller increase of 5p a week or less. The authority said the increase of 1.99 per cent was voted through in the wake of a “significant decrease” in core funding from central government. Other highlights of the budget include a decrease of one percent on council house rents, an increase of one percent on sheltered housing rents, and no change to the Council Tax Reduction Scheme.
The rise in council tax is a tough decision to take, and one we didn’t take lightly
Cllr Derrick Haley, Mid Suffolk District Council Leader, said: “The rise in council tax is a tough decision to take, and one we didn’t take lightly. In fact, we have been making sure we are financially sustainable by increasing our council tax income where necessary over the last few years. This prudence, along with our wise investments, means we are in a relatively good position and are able to keep our increase below the £5 maximum that we were allowed to do. More than half of our residents will be paying less than the average increase because of the profile of properties in our area.
“Mid Suffolk is actively exploring alternate ways of generating income to replace the core funding from Government and we are also looking at different ways that we can invest to earn a better return. We have recently made £1m available through Funding Circle for loans to both local and national businesses. This type of innovative project is vitally important, not only to ensure the future financial sustainability, but so that we can protect the services that are important to the communities we serve.”