From next year, some owners of second homes in Wales could pay up to four times their current rate of council tax.
Currently, councils can charge a council tax premium of up to 100% for second homes. However, the government has announced their plan to increase it to 300% from April 2023.
The increase is part of the Welsh Government’s efforts to open up the market to first-time buyers and make it more affordable for people to purchase homes where they grew up.
As imagined, this has stirred up a lot of debate, with some stating that the change is discriminatory and “morally indefensible”, while others argue that it is the right move to protect communities and help locals onto the property ladder.
The timing of this increase is also not well-received by many, as it comes at a time when the cost of living continues to rise and there are still looming effects from the pandemic.
Each council will be able to decide the premium amount that is appropriate for their local circumstances. Some councils only charge the premium in certain situations, for example, properties that have been left empty for a long period of time.
The increase is expected to take effect from April 2023 and you can contact your local council to enquire about the amount.