Purpose

To determine
the Councils approach to its premium rate on long term empty properties for
2023/24 and beyond.

Content

RESOLVED – That
Council approve an increase on the level of premium on Long Term Empty
Properties from 1 April 2024 from 50% to 100%. 
Properties which had been empty for over 4 years would be subject to a further
premium of 50%, so would have a 150% premium. The premium should also increase
from 1 April 2025, by a further 50%, so from 1 April 2025, this would increase
to 200% and a further 50% should the property be empty for 4 years.

 

REASONS FOR DECISION

 

(i)         The proposal to increase premiums on
Long Term Empty Properties from 1 April 2024 and April 2025, should act as a
lever to help improve to reduce the number of long term empty properties which
exist in the borough. The increase in premium may act as a further reason why
they would seek to sell or let the property to avoid paying a premium on the
property.

 

(ii)        There are several exemptions which exist, which include
properties for sale or let, or properties subject to planning conditions, job
related dwellings, if these applied then the property would not be subject to
the premium. In the event of Hardship, this could be considered by the Head of
Service & Chief Officer Finance and ICT under S13A of the Local Government
Finance Act 1992.