Somerset is set to impose additional council tax charges on empty properties and second homes, in a bid to address its housing crisis and generate revenue for local services. With over 2,600 empty properties in the region, the council aims to encourage property owners to bring these homes back into use by introducing a 100% council tax premium on properties left vacant for a year. The move is also intended to alleviate housing pressure in coastal areas and areas with a bustling tourism industry.
As of October 2023, Somerset had 2,638 empty and unoccupied properties, with 453 of them empty for at least two years and 87 lying vacant for over a decade. Under the Levelling Up and Regeneration Act 2023, the council can now impose additional council tax after a property has been empty for 12 months. This change, to be effective from April 1, 2024, is anticipated to raise an extra £1.72m in council tax, helping to reduce the projected £87m budget gap for 2024/25.
Moreover, second homes, which have contributed to housing supply strain in picturesque areas like coastal towns and places near tourist hotspots, will also be subjected to a 100% premium on council tax, generating an estimated £4.09m from April 1, 2025. These measures were approved by the council, signaling a significant policy shift to capitalize on property taxes and address housing challenges.