Out-Law News | 04 Mar 2014 | 3:57 pm |
The Council launched a consultation on its draft charging schedule (DCS) last month. It has proposed to set a borough-wide rate of £50 per square metre for residential developments and a borough-wide rate of £80 per sq m for retail developments. All other types of use would be subject to a nil rate levy under the proposals.
Following a consultation on its preliminary draft charging schedule (PDCS) in August last year, the Council said that it had made changes to the proposed rates to take account of representations made during that consultation, and the resulting need for additional viability evidence and testing.
The changes include the introduction of a flat residential rate rather than dividing the borough into a low value area and a high value area as proposed in the PDCS.
The consultation is open for responses until 28 March. The Council said it hopes to be able to implement CIL in the summer.