Don't miss a story sign up to the North Devon Gazette's FREE daily newsletter CLICK HERE

Cash rich council sets highest precept in North Devon

12:28 04 February 2014

No council tax break for South Molton households.

No council tax break for South Molton households.

Archant

No tax break for South Molton as council banks reserves.

SOUTH Molton Town Council has defended its position not to reduce its share of the council tax – despite sitting on nearly £1 million in its reserves.

Although the council has agreed to freeze its precept for the fourth year running, the annual bill for an average band D household will be around £97 – the highest in North Devon.

Similar households in Barnstaple will pay £70. The annual bill will be £61 in Ilfracombe and £74 in Bideford.

Council tax will net South Molton Town Council a total of £153,379 during the next 12 months.

But finance officer Andrew Coates said because of new housing developments in the town, the annual bill had actually come down by around £6 per household.

He said the council had around £450,000 in general reserves and £500,000 in capital reserves.

“General reserves are quite high but should be coming down shortly as we have some general maintenance planned around the town,” he said.

“I like to keep that figure fairly high in case we need money to make repairs to buildings for example.”

Mr Coates said the capital reserves could not be used to run the council or lower the precept.

“We can only use capital money to buy land or other fixed assets and investments to produce income for the council,” he said.

0 comments

Other News Stories

08:48

Bideford’s brand new Lidl store is set to open in Clovelly Road this week with some special offers for customers.

Read more
09:42

Want to win dinner for two at North Devon Street Food market? Enter our competition here.

Read more
09:00

Bideford Rugby Football Club pitch will make the perfect landing pad for emergency helicopters

Read more

There will be plenty of festive cheer in Bideford as the businesses put on a late night shopping event.

Read more
10:49

There were mince pies and mead at the annual Bideford Town Council lease signing ceremony this weekend.

Read more
Yesterday, 16:24

Sighting was only the sixth ever recorded in the UK – and the first in England

Read more
Yesterday, 11:33

Stagecoach say routes have been redesigned following feedback from bus users

Read more
Yesterday, 10:29

All the photos and video from the Santas on the Run event and the Bideford Christmas light switch on yesterday (Sunday).

Read more
Yesterday, 09:41

Coastguard and lifeboat teams joined recover efforts on Saturday evening

Read more
Sunday, December 4, 2016

Official diversion will be some 17 miles long when work begins on the Caen Street flood defences

Read more

Local Weather

Partly Cloudy

Partly Cloudy

max temp: 11°C

min temp: 9°C

Most Read News

Useful Links

Advertise in the paper
Submit a Story
Subscribe to the paper
Competitions
North Devon Football League
Order Photos
Family notices
iwitness24
Facebook
Twitter
Google Plus Page
Reader Travel

Family Notices 24

Read Online

Image
Read the North Devon Gazette e-edition E-edition

Newsletter Sign Up

HOT JOBS

Show Job Lists

Local business directory

North Devon's trusted business finder

Find planning applications