The leaders of all Cornwall's six district councils and Cornwall county council have agreed a proposal for using the increase in Council Tax on second homes to create a fund for affordable housing.
It is on the basis that all district counciLS will reduce the discount on second homes from 50 per cent to ten per cent.
Three quarters of the extra income which would go to the county council, and all the additional money to the districts, will be used in the districts to build affordable homes for local people across the county. The proposals will be put to all councils involved. If successful it could mean around £3.5 million a year being available if this formula is applied.
The total additional income to the county council is currently expected to be over £2.7 million, of which around £2 million would be set aside for affordable housing.
The remainder would be applied to county council services.
The agreement would be for five years, reviewable after three years, which would mean that a very substantial contribution can be made to the provision of affordable homes.
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