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Issue details

100% Business Rates Retention Pilot - Update

Kent County Council, Medway Council, and all twelve districts within the Kent county area successfully applied last year to become a 100% Business Rates Retention pilot. This means that the Government will allow 100% of business rates growth to be retained within the local area. The consequent financial gain across the whole area was estimated to be £24.7 million in 2018/19, to be split between a Financial Sustainability Fund and a Housing and Commercial Growth Fund.

Decision type: Non-Key

Decision status: For Determination

Wards affected: (All Wards);

Decision due: 24 Oct 2018 by Policy and Resources Committee

Department: Finance and Business Improvement

Contact: Mark Green Mark Green, 01622 602297 Email: markgreen@maidstone.gov.uk.

Public Or Private and Reason if Private: Public

Agenda items

Documents

  • 100% Business Rates Retention Pilot - Update