The rise, which amounts to £5/year, means that the Band D council tax will be £174.09.
It will enable the council to continue providing quality services in the face of a reducing government grant which has been a significant part of the council’s income, councillors heard at Full Council last night (Wednesday).
The council tax figure forms part of the council’s medium term financial plan which will run until 2023/24. It’s built around the council’s new corporate principles of sustainability, economic growth, engagement and digital by design.
Geoff Williamson, executive member for financial sustainability, said afterwards: “Key issues that underpin our medium term planning include the longer term national financial outlook and its implication on local budgets as well as ways that the council can produce income in the future.
“Because of prudent financial management over many years, the council is in a strong position to proceed with a range of ambitious investment programmes.”
• The regeneration of the Old River Lane quarter in Bishop’s Stortford
• The expansion of Hertford Theatre
• Rebuilding a new state-of-the-art leisure centre at Grange Paddocks in Bishop’s Stortford
Cllr Williamson added: “Managing our budget for the coming years is a challenge in the face of reducing income and increasing demands, so I am delighted that we have been able to put together a robust plan that will serve residents well into the future.”
See the full report and figures on our Councillors & Committees page and scroll to item 11 where you’ll also find the webcast of the meeting.