Couple’s retirement dream in ruins over £2,000 tax rise on second home
A COUPLE say their retirement dream of living in their £150,000 second home could end up in tatters because of “punishing” new rules which will see their council tax double.
Fiona Wilson, 66, and her husband, David, 68, bought the property in Whitby 14 years ago as a rental opportunity.
But after leaving their jobs they decided to make it their second home and were looking forward to regular trips to the coast. But now they say they are facing a “punitive” tax rise, which could cost them thousands or pounds or force them to sell the three-bedroom property.
Mrs Wilson, a former teacher, and Mr Wilson, a former pharmacist, live in the village of Potto, 40 miles from Whitby.
Mrs Wilson said: “At the time of my retirement, when we should be enjoying the products of our hard work, we are being punished.”
The couple paid low tax while the Whitby property was being rented out thanks to 100 per cent business rate relief.
But they then discovered the tax – which was £1,800 a year – is set to rise to nearly £4,000 a year in April 2025 as North Yorkshire Council brings in a “second home premium” charge of 100 per cent as part of the Levelling Up Act (2023).
A spokesperson said: “The new council tax premium on second homes is a key part of our strategy to help provide good quality, sustainable properties for residents.”