Oxford’s new council tax hike aims to ensure second home owners contribute fairly
Oxford: Starting in April, second home owners in Oxford are in for a shock. They’ll see their council tax bills double, hitting 200%. This move is all about making sure wealthier residents chip in for local services.
The Labour-run city council is taking action after getting the green light from the government to impose this hefty charge. It’s not just Oxford, either; places like Cornwall and the Lake District are on board with similar plans.
By doing this, the council hopes to free up homes for first-time buyers in areas where demand is sky-high. It’s a big deal, especially since Oxford is known for its beautiful scenery and historic university.
With 668 homes affected, the city is becoming less appealing for those with second properties. Deputy leader Ed Turner mentioned that it’s only fair for second home owners to contribute to local services.
He emphasized the need for fairness in Oxford, stating they need the funds and will start charging as soon as they can. Property owners will get a year’s notice before the tax hike kicks in, targeting homes that aren’t primary residences.
This could bring in over £100 million for local councils looking to use these new powers. For instance, Cornwall Council expects to collect around £27 million from this premium.
Interestingly, the number of properties not used as main homes in Oxford jumped from 451 to 712 last year. Just recently, Oxford was named the least affordable city in the UK, with average property prices soaring to £571,300, which is over 13 times the average salary.
