Out-Law News | 01 May 2014 | 4:45 pm |
The Council is currently consulting on its draft charging schedule (4-page / 2.33MB PDF) (DCS). It has proposed that a borough-wide rate of £120 per sq m should apply to all residential, hotel, sheltered housing and private rented hostel developments. It has set a draft nil rate levy for care homes.
In central Reading, all retail development will be subject to a nil rate levy under the proposals. In the remainder of the borough, retail developments of 2000 sq m and over, including foodstores, will be charged a draft rate of £150 per sq m. A draft nil rate levy will apply to retail developments of less than 2000 sq m.
For office developments in the 'central core' zone the Council has proposed a rate of £30 per sq m. A nil rate levy has been proposed for all other types of development.
The consultation is open for comments until 14 May 2014. The Council said it expects to implement CIL in April 2015.