11APR2013

Council tax changes in Nottingham

Long vacant periods for rental property have always meant painful times for landlords; properties sat empty month on month with no rentals coming in to soften the blow of the monthly mortgage repayments. Unfortunately, things are going to get a whole lot worse. As of the 1st of April, the rules on council tax in Nottingham have changed in regard to empty properties. Landlords will now have to pay tax for the entire periods their properties lay vacant. It is now an even bigger necessity to get properties let quickly to avoid these unnecessary costs.

That’s right, no discount will be awarded on empty properties and landlords will be required to pay FULL council tax!

The only exemptions on this policy are:

Please also view the table below:

Property Type

Current Council Tax

Council Tax from 1st April 2013

Furnished property not used as anyone’s main home

10% discount leaving 90% to pay

Full Council Tax to pay

Empty and unfurnished

Exempt for 6 months and then full tax to pay

Full Council Tax to pay

Empty needing or undergoing major repairs

Exempt for 12 months and then full tax to pay

Full Council Tax to pay throughout

Empty and unfurnished for 2 years or more

Full tax to pay

150% of the Council Tax to pay

All the information is correct commencing the 1st April 2013 as per a letter received from the Nottingham Council. For clarification please visit www.nottinghamcity.gov.uk/counciltax or ring 0115 9154851.

Do you have a property in Nottingham sitting empty and need a tenant? Contact Fairview on 0115 958 7791 or visit www.fairviewestates.co.uk

 

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