What is a precept and how is it calculated?
A precept is the amount of money assigned by NKDC, which is calculated to cover the costs outlined in the budget for the following financial year.
Each year NKDC create a 'Precept calculator'. The working calculator model helps Parish Councils calculate the impact for their own parish. The calculator shows the change in tax base between the current year and the next. It calculates what precept is needed to achieve a 'zero' percentage increase, and also has a section that shows the impact on the council bill for any precept proposed.
Your councillors will look at the amount they calculate they will need, and may alter this in order to ensure the increase is reasonable for residents. Some years your Parish Council has been able to keep a 0% increase, and have used reserves to bridge the gap between the precept requested and the total the budget requires. This, however is not sustainable, and therefore the Parish Council take great care each year in balancing what money is needed to provide the village with what it needs, with considering how much the residents will need to pay.
The following documents are the annual Precept Calculators, which show how the precept is calculated and shows the band d equivalent, which is what is reported on Harmston residents council tax bills (this figure will vary depending on the band a property is in.