In preparing for your move it’s important to make sure you’re aware of all the costs. This includes council tax. If you’re a first-time buyer or simply not familiar with the property-based tax, here at Proctors we have made it easy for you, simplifying the facts and outlining the current yearly costs.
What is it?
Council tax is a property-based tax payable on most domestic properties, including houses, flats, houseboats, caravans and even granny annexes. So, whether you’re buying or renting a property, you will have to pay council tax.
How is it calculated?
Council tax bands are calculated based on the value of the property at a specific point in time. For instance, in England your council tax band is based on what the value of your property would have been on 1 April 1991. Costs vary from borough to borough, plus in some cases you might be eligible for a discount - if you live on your own you are entitled to 25% off or if you are in full time education for example you won’t have to pay at all.
What are the costs?
To determine how much you will pay, you must first find out which of the eight council tax bands (A-H) your property falls into. To do this simply visit the government website and put in your postcode. You can do it here
Since Proctors markets properties within the areas of Croydon, Bromley and Lewisham, we’ve put together charts representative of each borough with the valuation bands and their corresponding total bills for the year.