New Council Tax Surcharge for Second Homes
Starting 1st April 2025, second-home owners across East Suffolk, Great Yarmouth Borough Council, North Norfolk District Council, and Kings Lynn & West Norfolk Borough Council will face a 100% council tax surcharge.
Why the Council Tax Premium is Being Introduced
The additional charge aims to:
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Fund affordable housing and homelessness services
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Address the strain second homes place on local council services
Allocation of Funds
The revenue generated from the surcharge will be distributed between the district councils and the county council:
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District councils will use their share to support affordable housing and homelessness initiatives
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County councils will allocate funds towards local infrastructure, roads, and social care
Implementation and Exemptions
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Annexes forming part of a main property will be exempt from the surcharge.
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Homeowners who believe the surcharge is incorrectly applied can contact their local council for review.
Potential Impact on Second-Home Owners and Local Economy
With post-pandemic declines in holiday home occupancy rates, many owners may choose to sell their properties, potentially leading to a significant shift in the housing market. This mass exit could further strain Norfolk and Suffolk's hospitality and leisure sector, impacting local economies and businesses reliant on tourism.