Charnwood Borough Council's cabinet approved a proposal to raise its share of council tax by less than 9p a week for a Band D property at a meeting on Thursday Feburary 13.
The recommendation will now go to full council on Monday, February 24.
Charnwood Borough Council is proposing to raise its share of council tax by less than 9p a week for a Band D property.
The proposed increase would see the annual charge for an average Band D property rise £4.43 (3.63 per cent) to £126.52 from April 1, 2020.
It is also being proposed to increase the Loughborough Special Rate, the equivalent of a parish precept in villages and paid by residents of the town, for the first time since 2016. It is proposed to increase Loughborough Special Rate to £76.46 a year.
The Council’s cabinet will consider the draft budget plans on Thursday, February 13 with its recommendation due to go before full council on Monday, February 24.
Councillor Tom Barkley, lead member for finance and property services, said: “We are putting forward a proposal to increase our local element of council tax for the 2020/21 financial year.
“Local government funding continues to decrease and we have proposed what we believe is a reasonable increase to protect our frontline services.
“This is the first time in four years we’ve proposed to increase the Loughborough Special Rate.
“Even with these increases, it means we will still have one of the lowest council tax rates in the country.
“However, the budget does include using some of our reserves and this is not a sustainable position. That is why we are developing plans to increase our income from other sources, such as through investment in commercial property, and ensure we are operating in the most efficient and effective ways possible.
“A commitment to excellent services for residents remains firmly intact.”
Charnwood Borough Council currently has the 23rd lowest council tax charge out of 201 district councils in the country.
Council tax pays for a range of services provided Charnwood Borough Council, Leicestershire County Council, Leicestershire Police and Leicestershire Fire and Rescue and the parish council where you live (or Charnwood Borough Council for people in Loughborough).
The Charnwood element accounts for less than 10 per cent of the total bill.
For more information about the budget, see the reports to Cabinet on the Council website: http://bit.ly/CBCtax2020