Council Tax In Lincoln, Skegness, Grantham, Boston, Could Rise by 2.99% for 2025/26
Council Tax Payers might see a 2.99% increase in council tax for the 2025/26 period as Lincolnshire County Council deliberates on the upcoming financial year’s bills.
A report prepared for the council’s executive meeting on Tuesday, January 7, details budget plans centered around this near-3% increase assumption.
The proposed tax hike is anticipated to generate an additional £11.7 million, considering the current council tax base, raising a Band D home’s annual bill from £1,578.69 to £1,625.85.
Projected growth in the council tax base could bring in an extra £5.8 million, summing up the total additional revenue to £17.5 million for 2025/26. Comparatively, a 1% increase would yield £3.9 million.
Council Tax in Lincolnshire to increase
Following the Ministry of Housing, Communities and Local Government’s provisional finance settlement announcement on December 18, the council’s core spending power might rise by £33.6 million, or 4.7%, for 2025/26, awaiting confirmation in February 2025’s final settlement.
By the end of January, details on the council tax base, business rates income, and collection fund balances from Lincolnshire’s district councils will be confirmed.
Once these details are available, the 2025/26 budget proposals will be finalized at the executive meeting on February 4 and presented at the full council’s budget-setting meeting on February 21.
Various authorities, including district and parish councils and the police, will spend the coming weeks discussing their portions of the bill.
The county council’s medium-term financial plan highlights a challenging fiscal environment due to rising council service costs and changes in national insurance.
A report for the executive indicated: “In setting this budget, achieving maximum funding would involve a 5% council tax increase. The current proposal is for a 2.99% increase, while considering other options. This approach aims to best position the council to face potential future challenges.”
