London council tax increases – how much will you pay?
Most councils in London have announced they are hiking their council tax by the maximum allowed amount.
London council tax is going up across the board as the majority of London’s local authorities follow other councils around the country and increase council tax by the maximum allowed for the new financial year (beginning April 2023).
Most Londoners will see a 4.99% increase in their council tax bills, although that excludes the Mayor of London’s precept.
Sadiq Khan has announced plans to raise his precept by just under 10% to fund services provided by the Greater London Authority (GLA).
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
This amounts to £38.55 on average for a D Band Property. The typical London household will pay over £434 next year to the GLA, that’s on top of the increases from local councils.
The London councils facing the highest increase in council tax
Croydon council tax is on track for the highest increase in the capital. Croydon Council has been given special permission by the government to raise council tax by 15% to raise money after it issued its third bankruptcy notice in two years in November.
Elsewhere, Lambeth council tax will be going up by 4.99% as the local authority pushes for the maximum allowed increase.
Among the handful of councils not hiking tax by the maximum allowed include Kensington and Chelsea. This council has said it plans to freeze its part of council tax, only implementing a 2% increase to fund social care.
Additionally, a one-off payment of £100 to households in bands A to D has been suggested by council members to help residents with the cost of living crisis.
Tower Hamlets’ council tax will also be frozen for the next year, with the local authority implementing only a 2% rise in the Adult Social Care precept.
These are the London boroughs that have proposed or confirmed council tax increases.
Local authority | Council Tax Increase |
Barking & Dagenham | 4.99% |
Barnet | 3.8% |
Bexley | 4.99% |
Brent | 2.99% |
Bromley | 4.99% |
Camden | 4.99% |
Croydon | 15% |
Ealing | 4.99% |
Enfield | 4.99% |
Greenwich | 4.99% |
Hackney | 4.99% |
Hammersmith and Fulham | 4.99% |
Haringey | 2.99% |
Harrow | 4.99% |
Havering | 4.99% |
Hillingdon | 4.99% |
Hounslow | 4.99% |
Islington | 4.99% |
Kensington and Chelsea | 0% |
Kingston Upon Thames | 4.99% |
Lambeth | 4.99% |
Lewisham | 4.99% |
Merton | 4.99% |
Newham | 4.99% |
Redbridge | 4.99% |
Richmond Upon Thames | 4.99% |
Southwark | 4.99% |
Sutton | 4.99% |
Tower Hamlets | 2% |
Waltham Forest | 4.99% |
Wandsowrth | 2% |
Westminster | 2% |
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
Nic studied for a BA in journalism at Cardiff University, and has an MA in magazine journalism from City University. She joined MoneyWeek in 2019.
-
Tycoon Truong My Lan on death row over world’s biggest bank fraud
Property tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
By Jane Lewis Published
-
Why undersea cables are under threat – and how to protect them
Undersea cables power the internet and are vital to modern economies. They are now vulnerable
By Simon Wilson Published
-
Act now to bag NatWest-owned Ulster Bank's 5.2% easy access savings account
Ulster Bank is offering savers the chance to earn 5.2% on their cash savings, but you need to act fast as easy access rates are falling. We have all the details
By Marc Shoffman Last updated
-
Moneybox raises market-leading cash ISA to 5%
Savings and investing app MoneyBox has boosted the rate on its cash ISA again, hiking it from 4.75% to 5% making it one of top rates. We have all the details.
By Ruth Emery Published
-
October NS&I Premium Bonds winners - check now to see what you won
NS&I Premium Bonds holders can check now to see if they have won a prize this month. We explain how to check your premium bonds
By Kalpana Fitzpatrick Published
-
Bank of Baroda closes doors to UK retail banking
After almost 70 years of operating in the UK, one of India’s largest bank is shutting up shop in the UK retail banking market. We explain everything you need to know if you have savings or a current account with Bank of Baroda
By Vaishali Varu Published
-
How to earn cashback on spending
From credit cards and current accounts to cashback websites, there are plenty of ways to earn cashback on the money you spend
By Vaishali Varu Last updated
-
John Lewis mulls buy now, pay later scheme
The CEO of John Lewis has said the retailer will consider introducing buy now, pay later initiatives for lower-priced items.
By Pedro Gonçalves Published
-
State pension triple lock at risk as cost balloons
The cost of the state pension triple lock could be far higher than expected due to record wage growth. Will the government keep the policy in place in 2024?
By Nicole García Mérida Last updated
-
Paragon raises rate on one-year fixed cash ISA to 5.75%
Paragon Bank ups its one-year fixed cash ISA rate to 5.75% - is it enough to top the table?
By Vaishali Varu Published