The tax on second homes in North Yorkshire has contributed a substantial pot.
That's according to North Yorkshire Council's Deputy Leader.
The authority's Executive Member for Finance and Resources also says it's making a difference in the area.
Gareth Dadd commented:
"I must say that's probably one of the proudest policies that I've ever been involved in. I know it wasn't universally welcomed and it's still not universally welcomed, usually by second home owners I might add. But it has provided us a fairly-substantial pot and I think I'm right in saying that we are the only authority in the country that has reserved ring-fenced, albeit informally [the funding]. At this stage, while we are still able to for use to support the effects of second-home ownership. The first development is beginning in Hunmanby, next door to one of the few councillors who are quite vociferous in his opposition to a second homes premium."
He was pleased to note that the Council Tax Second Homes Premium introduced in 2025-26 was starting to bear fruit in the form of the delivery of low cost social housing.
The authority's Corporate Director of Resources is Gary Fielding, who says the Council Tax Second Homes Premium will continue.
He added:
" I can confirm that the budget and the medium-term financial strategy continues to ring-fence all of the net proceeds 100%. To deliver on the housing ambitions as were set out. I can also confirm that the budget does provide for a council tax reduction scheme, which largely continues as was beforehand.
That gives 100% relief to the most disadvantaged. We will continue to monitor that as we observe whether or not there are further cost of living pressures, so we will report to that on a quarterly basis. The budget also provides for a one-off 5 million pounds investment on top of the growth, of 5 million pounds investment in property maintenance."
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