Residents occupying an average Band D property will see their weekly payments to the district council rise by less than 10 pence, reflecting a 2.99 per cent increase from £167.00 to £171.99 annually.
This adjustment maintains Epping Forest District Council’s position as one of the authorities with the lowest district council precepts in Essex.
The total Council Tax for a Band D property will now be £2,188.69, an increase of £86.02 or 4.09 per cent from the previous year.
This sum is distributed among several entities.
Councillor Chris Whitbread, leader of Epping Forest District Council, acknowledged the necessity of the district’s precept increase, attributing it to factors such as inflation and higher employer national insurance contributions.
He expressed disappointment with the government’s financial settlement, noting that it effectively negates the 2.99 per cent increase in the district council precept.
Despite these challenges, councillor Whitbread emphasised that Epping Forest District Council remains in a stronger financial position than many other councils, largely due to strategic investments and efficient service delivery.
He highlighted that the district’s portion of the Council Tax represents just 13 per cent of the council’s total income, underscoring the value provided to residents.
The council’s diversified income streams play a crucial role in maintaining financial stability.
Assets such as the Epping Forest Shopping Park and North Weald Airfield, along with a substantial portfolio of retail and industrial units, generate consistent revenue.
Additionally, the recent £88 million land sale to Google has bolstered the council’s capital reserves, with interest earnings from this transaction contributing significantly to public service funding.
The budget-setting process involved close collaboration between the Cabinet and the Overview and Scrutiny Committee, ensuring a balanced approach to fiscal planning.
While certain expenditures, like the transfer of Cottis Yard car park ownership from Qualis to the council, presented challenges, other efficiencies were identified to offset these costs.
Councillor Whitbread commended fellow councillors and staff for their dedication in formulating a budget that safeguards essential services while maintaining fiscal responsibility.
