(1) That a recommendation be brought before Council that it make the Determination set out below:
“This council determines that in accordance with section 11B of the Local Government Finance Act 1992 it will set a premium that applies the maximum afforded by the Act under sections 11B(1A) (1B) and (1C) with effect from the dates set out in those sections:
(1a) For the financial year beginning on 1 April 2019 the “relevant maximum” is 100.
(1b) For the financial year beginning on 1 April 2020 the “relevant maximum” is –
(a) in respect of any dwelling where the period mentioned in subsection (8) ending on the relevant day is less than 5 years, 100;
(b) in respect of any dwelling where the period mentioned in subsection (8) ending on the relevant day is at least 5 years, 200.
(1c) For financial years beginning on or after 1 April 2021 the “relevant maximum” is— Page 46
(a) in respect of any dwelling where the period mentioned in subsection (8) ending on the relevant day is less than 5 years, 100;
(b) in respect of any dwelling where the period mentioned in subsection (8) ending on the relevant day is at least 5 years but less than 10 years, 200;
(c) in respect of any dwelling where the period mentioned in subsection (8) ending on the relevant day is at least 10 years, 300.
(2) That work commence integrating this into the incentivising of bringing empty property back into use to increase Housing supply.