Council tax budget
Explaining the Council Tax Requirement
The Royal Borough of Greenwich plans to finance expenditure of £239m in 2017/18, with the following:
- Government funding (including New Homes Bonus) of £124m
- Business Rate income of £23m
- previous year's collection fund surplus of £9
- funding from council tax of £83m.
The £83m funding received from council tax payers is known as the Council Tax Requirement.
The Royal Borough of Greenwich also collects the Greater London Authority (GLA) precept of £22m on behalf of the GLA from council tax payers.
The Environment Agency has statutory responsibilities including the management of river defences and flooding and it generates part of its income through a local levy on boroughs. Greenwich pays an Environmental Agency Flood Defence levy of £168,000 in 2017/18.