Somerset Council Tax could rocket by 7.5 per cent this year

Somerset: Council Tax is set to rise significantly this year. The council faces a £66 million budget gap. To address this, they may increase taxes by 7.5% starting in April.

The council has been struggling financially and risks bankruptcy without urgent help. They requested exceptional financial support from the Government to manage their budget for 2025/26.

Somerset Council plans to raise its precept by 2.5% above the national cap of 5%. Since its formation in April 2023, the council has been cutting costs and aims to save £47 million next year.

However, rising costs in social care are a major concern. The council is still facing a £66 million gap for the upcoming financial year.

Leader Bill Revans reached out to the Secretary of State for Housing, Angela Rayner, to discuss the financial challenges. The Government has now allowed the council to raise taxes by up to 7.5%.

Revans stated that they need to consider the implications of this increase before finalizing their budget. The tax hike won’t fully cover the budget gap, so the council may need to sell assets or borrow money.

Revans has emphasized that the local government funding model is broken. He believes urgent financial help is needed now, not in 2028.

Meetings to discuss the budget will take place on February 17, February 19, February 26, and March 5. The public is encouraged to attend these meetings, either in person or online.