1) To recommend to Full Council the release of £247,083 capital receipts to increase the coastal adaption fund; reinvesting proceeds previously received from the sale of land.
1. That the Council be asked to RESOLVE that The Treasury Management Half Yearly Report 2020/21 is approved.
2. That the Council be asked to APPROVE changes to the Counterparty Limits
Members recommend that Full Council shall resolve that under section 11A of the Local Government Finance Act 1992, and in accordance with the provisions of the Local Government Finance Act 2012 and other enabling powers one of the following applies:
(a) The discounts for the year 2021/22 and beyond are set at the levels indicated in the table at paragraph 2.1.
(b) The premium for long term empty properties (those that have been empty for a consecutive period longer than 24 months) is continued at 100% of the Council Tax charge for that dwelling
(c) The premium for long term empty properties (those that have been empty for a consecutive period longer than 60 months) is continued at 200% of the Council Tax charge for that dwelling
(d) The premium for long term empty properties (those that have been empty for a consecutive period longer than 120 months) is set at 300% of the Council Tax charge for that dwelling
(e) To continue to award a local discount of 100% for eligible cases of care leavers under section 13A of the Local Government Finance Act 1992 (as amended).
(f) That an exception to the levy charges may be made by the Section 151 Officer in conjunction with the Portfolio holder for Finance, on advice of the Revenues Manager in the circumstances laid out in section 3.6 of this report.
(a) those dwellings that are specifically identified under regulation 6 of the Council Tax (Prescribed Classes of Dwellings)(England) Regulations 2003 will retain the 50% discount and;
(b) those dwellings described or geographically defined at Appendix A which in the reasonable opinion of the Head of Finance and Asset Management are judged not to be structurally capable of occupation all year round and were built before the restrictions of seasonal usage were introduced by the Town and Country Planning Act 1947, will be entitled to a 35% discount.
In accordance with the relevant legislation these determinations shall be published in at least one newspaper circulating in North Norfolk before the end of the period of 21 days beginning with the date of the determinations.
To set appropriate council tax discounts which will apply in 2021/22 in accordance with the legal requirements and to raise additional council tax revenue.
Overview & Scrutiny Committee recommendations – 11 November 2020:
Please note that this meeting took place after the agenda for Full Council was published. The Chairman of the committee will give a verbal update at the meeting.