Ludlow set for 5 per cent council tax rise

Ludlow Town Council’s budget precept, the amount it requests from residents, will increase from £780,645 to £823,696. The council’s income streams are expected to fetch in a further £297,111.00.

The proposed budget will mean an annual increase in council tax for an average band D property of £13.02 per year, which equates to an increase of around 25p per week.

The rise will be added to an anticipated 4.99 per cent across the board increase in Shropshire Council’s precept for 2024/25, as local councils at all levels grapple with rising costs and reduced subsidy figures.

In a report delivered to a meeting of the town council last night (January 22), the authority’s budget task and finish group said the guiding principles of the town council’s budget would be to safeguard local services and to offer “financial sustainability and resilience” for the town council.

Last month, Ludlow’s town council agreed not to increase fees on any of the services it provides to residents, including market rents and cemetery fees. However it said that the electricity rates charged to market traders would be reviewed quarterly to reflect changes in the electricity supply market.

The council has budgeted £240,000 for loan repayments and overheads such as liability insurance and professional fees, while salaries of the council’s 19 full and part-time staff amount to a further £608,000.

Maintenance of the Guildhall is expected to run to £22,000 while shop rent on the Buttercross will cost a further £20,000. Around £33,000 has been allocated for grants and community projects.

Income from the town council’s various markets is expected to raise £133,000 after overheads, by far the biggest earner for council coffers.

The report added that the council would be implementing a number of capital projects, including bus shelter refurbishments and a scheme to extend the town’s CCTV coverage.