Will Council Tax rise this year? IFS study finds big increase likely

The cost of living crisis continues to hit families across the country as energy prices drive 500,000 households into fuel poverty and inflation soars at an alarming rate.

Analysts at research agency Cornwall Insight said energy bills could rise 30 percent over the next year.[;’nalystsatresearchagencyCornwallInsighthavesaidenergybillscouldriseby30percentnextyear[;’nalystsatresearchagencyCornwallInsighthavesaidenergybillscouldriseby30percentnextyear

The universal loan has already been cut as many families are worse off with more than £ 1,100 a year. The energy price cap has risen, which will mean that many households will have to choose between heating their home and basic needs such as food.

READ MORE When is the cheapest time to turn on the heater?

Even so, another bill could be on the rise.

Will the council tax go up this year?

According to the Institute for Fiscal Studies (IFS), England council tax could rise by £ 200 a year in three years.

The study claims the tax will rise at least 3.6 percent per year if the UK government is to follow its forecast spending plans to keep services at pre-pandemic levels.

The IFS warns that the new levy will not be enough to fund social assistance funds.

The potential increase has been criticized because it puts those who are supposed to benefit from the new social tax at a disadvantage.

The council tax is now expected to rise by more than five percent by at least 2024/25.

What is council tax?

The council tax is collected by each household to pay for services provided in your community, such as social welfare, policing, and garbage collection.

It was introduced in 1993 by the Conservative Party to replace the extremely unpopular community tax or poll tax.

Each property is classified in a tax class from A to H depending on its size, location, room layout, character and change in use.

The Valuation Office Agency (VOA) carries out these inspections and can visit your property if there is not already enough information variable, such as: B. New buildings.

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