There are many things to consider when it comes to living in a local area. We happen to think that there is a lot of positive reasons to enjoy life in Stockport but there are always elements you need to bear in mind and work into your considerations.
These are challenging times for everyone, and local council authorities are struggling as much as individuals. Stockport residents have been advised to brace themselves for a financial hit as the local council readies its budget for 2019/20.
Stockpot Council is looking to make savings
This warning comes with the news that Stockport Council is looking to make £16m worth of savings in the next financial year and by 2022, the aim is to save a total of £47m. As you would expect, there will be a number of cuts but it also looks as though there will be an increase in council tax.
The initial proposed increase in council tax is set to be 2.99%, which was made up of a 1.99%% increase in general and a further 1% from adult social care. This was expected to generate close to £4.5m in funding. However, it is now believed that the increase will be set at 2.75%, which means the council will generate a lower level of income.
Council tax is an issue for some Stockport residents
Given the fact that residents of Stockport already pay a higher amount of council tax than people in any other area of Greater Manchester is a concern. The average band in Stockport is D and two adults in a property find themselves paying £1,744 each year in council tax. There is a lot of uncertainty regarding what will happen to the country this year so the threat of increased council taxes isn’t a surprise but it is not a welcome surprise.
Speaking in October of 2018, council leader Alex Ganotis said; “In terms of cuts the future is bleak and it's going to get worse. I don’t want to put a spin on the facts because I need to be clear that we have to fill a £47m funding gap.” Ganotis is stepping down in May, so he will not be in position when these further cuts and increases start to have an impact, but it makes sense for local residents to consider what increases in council tax will mean to them.
There are still many fantastic reasons to live in Stockport and the improvements in the town centre area making the area more appealing. It is vital that people make informed decisions and while further council tax increases will lead to households having to secure their budget, Stockport still has a great deal to offer.
As Stockport property specialists, we want to ensure you stay in touch with the latest property news. If you are looking for assistance in this area, give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html