i recall hearing that the govt intend to restructure the council tax banding. this will take into account any alterations to the fabric of our homes, garages,driveways,conservatories.
as i a can currently see 7 houses all having modifications done at the moment does any one have any indication of these changes occurring or what the likely effects could be.
I believe the new bandings are due to be introduced in 2007. Welsh homes have had their bandings changed already - 33% went up a band, 8% went down a band.
I think it's fair to say that a similar thing will happen in England
http://news.bbc.co.uk/1/hi/wales/4628149.stm
I think its just to re- bracket homes in accordance with thier current valuations, so yes I would suppose they would take all these things into account. Lets hope they use the same valuers who work for the compulsory purchase dept eh?
i just wondered if all properties would have increases due to price rises , or would people who have improved their homes be targetted as potentially they have increased the values of their homes even further.
i've done work on mine & it can't be undone so i would have to bite the bullet i s'pose.
cgksheff
26-07-2005, 08:42
The revaluation process is currently underway with a view to re-banding taking effect in 2007:
http://www.voa.gov.uk/council_tax/ct-reval-2007/introduction-nov04.htm
Obviously, revaluation can only occur at a specific point in time and if it is done before renovation/alteration, a different value will be place on a property compared to after renovation/alteration.
Re-banding does not automatically mean an increase in Council Tax as the total tax collected should stay the same. However forecasts suggest that 55% of us will see an increase.
Even now, without revaluing, the rules are that significant improvements can result in a change of band. However, it can only take effect when there is a "relevant transaction" such as sale of freehold or transfer of lease longer than 7 years.
This would mean that the "improver" would not see the change of band, but the new buyer would.
It would be much fairer (but less lucrative for the Council) to just nudge up the bandings by £20k ish.
I mean where can you buy a house these days for under £40k? Surely a kore realistic figure would be say £60/70k and all other bands altered accordingly.