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

14:00
The Oldenburg alongside the pier in Ilfracombe

Town in mourning pays homage to ‘a lovely guy’ who lost his life in Monday’s accident at the pier

Read more
The scene on the A39 tonight after two cars collided and caught fire. Picture: Kathryn-Racheal Ring

Members of the public have been praised for pulling two drivers out of burning vehicles following collision near Barnstaple on Friday night.

Read more

Fire in house in Gould Road started accidentally, said fire service.

Read more
11:11
This scenes from a video shot by Steve Pugsley shows the force of the waves.

Big waves are wreaking havoc for motorists who parked near the coast this morning (Monday)...

Read more
Police re-direct traffic following the fatal collision at the Sticklepath roundabout on Sunday afternoon. Picture: Submitted

Arrested on suspicion of causing death by dangerous driving after ‘Barnhenge’ collision which killed 20-year-old motorcyclist.

Read more
07:34
Verity stands defiant as T-Rex approaches... Picture: Combe Martin Wildlife & Dinosaur Park

Damien Hirst’s Verity almost ended up as dino food after an art-loving t-rex ‘escaped’ from his handlers during a trip to Ilfracombe.

Read more

Police warn horse owners to keep their eye out for anything suspicious during summer season after ‘isolated’ incident.

Read more
Bideford Carnival 2014. Pic: Graham Hobbs.

Find out when and where you can catch carnivals in North Devon this summer.

Read more
Yesterday, 21:10
Ilfracombe Harbour.

An investigation into how a 58-year-old fell from the pier is now underway

Read more
Yesterday, 18:41
Scenes from North Devon Relay for Life 2015 at Barnstaple Rugby Club. Picture: @tidyeyepr

Best feet forward at annual Cancer Research UK fundraiser in Barnstaple...

Read more

Local Weather

Partly Cloudy

Partly Cloudy

max temp: 17°C

min temp: 13°C

Most Read News

Great British Life


Great British Life

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

Digital Edition

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


North Devon's trusted business finder