Southampton City Council is set to double council tax for those who own more than one home.

It also wants to double council tax on empty homes after 12 months, as opposed to the current two years.

This comes as the council is estimated to have earned £700,000 less than it thought it would from council tax this year (2023/2024).

READ MORE: What will happen next with Townhill Park redevelopment?

The original estimation of £139.4m has been re-estimated at £138.7m.

In 2024/2025, 7,249 homes in the city are listed as being exempt, for reasons including disability relief.

Now, after a two-month public consultation between November 2023 and January 2024, the city council is planning on doubling council tax for those who own more than one home.

The number of those who own more than one house is said to be nearly 1,000 and the council will charge an ‘additional premium’.

The council is currently searching for tens-of-millions of pounds of savings to avoid the Government stepping in to handle their finances.

It is currently unable to increase council tax rates any more than it has – as the current rate of 4.99 per cent is the maximum.

However, it is within the council’s power to bring in a policy to charge more for multiple properties.

The consultation was filled out by 1,221 respondents – and the increased tax suggestion for those with multiple homes was supported by 82 per cent of people.

However, it was disagreed by 61 per cent of those who did own more than one home themselves.

The council’s chief financial officer was set to note the recommendations last night ahead of February’s 2024 budget.