Out-Law News | 07 Feb 2014 | 5:19 pm |
The Council has proposed to divide the borough into six different charging zones for residential and extra care housing developments. It had launched a consultation on the DCS last month.
For residential developments, the proposed rates have been set as £750 per sq m in Zone A; £590 per sq m in Zone B; £430 per sq m in Zone C; £270 per sq m in Zone D; £190 per sq m in Zone E and £110 per sq m in Zone F.
For extra care housing developments, the Council has set draft rates of £510 per sq m in Zone A; £230 per sq m in Zone B; £300 per sq m in Zone C; £160 per sq m in Zone D and £20 per sq m in Zones E and F.
Hotel developments will be subject to a borough-wide rate of £160 per sq m under the proposals, and student accommodation will be charged at a proposed rate of £125 per sq m. A draft nil rate levy will apply to all other types of development.
A Zone G has been created to cover the part of the Earl's Court masterplan development which falls within the borough. A proposed nil rate levy will apply to any development within that zone.
The consultation will be open for responses until 23 February 2014.