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Second Home Tax Premium Unlikely to Lead to Mass Sale of Properties

Saturday, 27 January 2024 06:00

By John Clayton

The introduction of a council tax premium on second homes in North Yorkshire is unlikely to lead to a mass sale of properties according to the council's deputy leader.

North Yorkshire Council's Executive has this week backed plans to charge the premium from April 2025.

Councillor Gareth Dadd says that when similar measures were introduced in Wales there wasn't a rush of properties onto the market.

Upper Dales councillor Yvonne Peacock said she was hopeful the premium would discourage some potential second homeowners from buying properties in areas such as national parks, thereby easing demand and making homes more affordable for young people.

Critics of the move have claimed the premium could even lead to council tax receipts falling as second home owners could simply transfer the property to being a holiday cottage business or swap the named owner’s details for someone who does not own property.

There are also concerns that plans to introduce council tax premiums on second homes in North Yorkshire could lead to an upsurge in the number of properties put on holiday rental sites.

Scarborough Councillor - Eric Broadbent - says he's been talking to second home owners in the local area.

Empty Homes in North Yorkshire could be subject to a 300 percent council tax premium from April and second homes could see a 100 percent premium from next year.

The measures have been backed by the council's executive committee as part of a move to tackle housing pressures in the county.

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