Remarkable Engagement’s New Homes Bonus iPhone App is an invaluable resource allowing you to easily calculate how much money a new housing scheme will generate, and to see at a glance how much each local authority received in the first spending settlement in April 2011.
The New Homes Bonus is a Government initiative designed to reward councils for developing new homes. For each new home delivered, the council will receive a bonus equal to the national average for the council tax band in which that property falls in that authority. The bonus will be paid for a period of six years, with an additional £350 for each affordable home delivered.
The initiative is designed to stimulate housing delivery in the wake of the abolition of the Regional Spatial Strategies, which the Government maintains failed to deliver the required number of houses.
The monies – paid in April of each year for the period of October to October of the preceding two years – are split in two-tiered areas, with 80% going to the district council and 20% to the county council. The monies are provided un-ringfenced, to be used as the authority deems fit.
The App also makes it possible to compare neighbouring authorities’ settlements, all at the push of a button.
Remarkable’s App is compatible with the iPhone, and is now available to download free of charge from iTunes by clicking on the link at the top of the page.
Calculator and ranking information from the DCLG, © Crown copyright 2010.