Typical Council Tax Payers in the Royal Borough could be £374 better off under Liberal Democrat Plans to freeze Council Tax than under Conservative Plans to increase Council Tax in line with inflation.
With inflation currently running at 5% and averge Council Tax Payers in the Royal Borough living in Band E properties the Lib Dems policy will save typical Council Tax Payers £374 over the next 4 years.
Calculations for this £374 figure are as below, using the methodology adopted by the local Conservatives and assuming inflation at its current rate.
2011/2012 Band D £990.38 Conservatives
2011/2012 Band D £990.38 Lib Dems saving = £nil
2012/2013 Band D £1039.90 Conservatives
2012/2013 Band D £990.38 Lib Dems saving = £49.52
2013/2014 Band D £1091.89 Conservatives
2013/2014 Band D £990.38 Lib Dems saving = £101.51
2014/2015 Band D £1146.49 Conservatives
2014/2015 Band D £990.38 Lib Dems saving = £156.11
Total Savings with Lib Dems over 4 years = £307.15 for Band D
Band E is set 22% higher than band D
Total Savings with Lib Dems over 4 years = £374.72 at Band E