A freeze on council tax in Thanet for the fourth year running is being recommended by the local authority’s leadership, despite facing a further ‘significant reduction’ in its formula grant from central government.

The council’s cabinet will consider the 2014/15 budget proposals when it meets next week (Tuesday, January 21).

It is expected to propose no increase in residents’ bills, despite having to find an additional £850,000 to offset the loss of income from former Ramsgate ferry operator Transeuropa.

Overall, the council has identified £1.2m of savings to reduce its net revenue budget requirement from £19.3m in the current year to £17.9m in 2014/15. Almost £400,000 of this reduction has come from tasking managers to save 20 per cent of their budgets for items like printing, stationery and equipment purchase, with another £100,000 from contract savings.

The likely standstill means that the Thanet District Council element of bills for a band D household will remain at £209.97 a year and the council will benefit from a government freeze grant of £80,000, equivalent to a 1% rise in council tax. The council last increased its share of residents’ bills in 2010.

However, the amount residents pay in Council Tax overall could still increase, depending on decisions reached by Kent County Council and the other precepting authorities, including the isle’s towns and parishes.

* Full story in this week's KM Thanet Extra