People who own a second home on the Isle of Wight will pay more in tax, from April 2025.
Meanwhile, those who own properties that are empty will pay more from April.
Exemptions are being finalised by the government.
A decision has been made at a meeting of the Isle of Wight council tonight (Wednesday).
200% council tax for second home owners
Those who live off the Isle of Wight but own a second home here will pay 200 per cent council tax on their Island property, plus a further payment on their permanent address.
County Hall says the charge will generate an additional £4.2 million per year for Island services.
Premiums for empty properties will now also kick in after just one year, not the current two.
Money raised from empty properties could make the council an extra £88,860 per year.
Garratt: The ‘greatest good’ comes from levying the rate
Speaking at the meeting, Councillor Andrew Garratt said it would be ‘remiss’ not to take advantage of this opportunity, adding the ‘greatest good’ comes from levying the rate.
No councillors spoke against the motion.
This article is from the BBC’s LDRS (Local Democracy Reporter Service) scheme, which News OnTheWight is taking part in. Some alterations and additions may have been made by OnTheWight. Ed
