Purpose

The Levelling Up and Regeneration Act 2023
contains provision for councils to charge a second home premium of
up to 100%, from the financial year 2025-26 onwards. There is a
requirement within the act for councils that wish to charge this
premium that the decision to do so is taken at least 12 months
before the relevant financial year. Therefore, should the Council
wish to charge a second home premium from 1 April 2025 a decision
by Full Council will need to be made by no later than 31 March
2024.

Content

*RECOMMENDED TO COUNCIL
 
That
Cabinet recommends to the Council:
 

1.   
For 2025-2026 a premium of
100% be charged on all eligible
residentialproperties that are not occupied as a
main residence and are substantially furnished.

2.   
Subject to the outcome of
the Government’s consultation concerning
theexceptions to the premium, the
criteria for the second home premium policy,
be delegated to the
Director of Housing and Communities in consultation
with the
Cabinet member for Housing, Revenues and
Benefits.