AN ISLE of Wight village could see its council tax precept bill rise by 90.1 per cent in the next few weeks.

On Thursday (February 16), Lake Parish Council could increase the amount it asks from residents by nearly double, from an average of £51.83 a year to £98.50.

The parish council must set its budget for 2023/23 and it is considering new projects — like public toilets on New Road.

To aid its costs, the parish council wants residents to fork out £166,262 — an average increase of 90p per week (£3.89 a month) for a Band D household, compared to 2022/23. 

To buy the pre-fabricated loos and also to account for some increased costs at the recently installed Lake Cliff Gardens toilets, the council would have to borrow from the Public Works Loan Board.

A £250,000 loan over ten years would be taken out, with potential repayments of £29,973 a year.

The budget allows for a ten per cent rate of inflation.

There are also plans to fund celebrations for the King's coronation and the annual Remembrance Sunday commemoration, as well as buoys in the Bay.

However, money for hanging baskets has been cut.

Instead, it will be put towards provisions for young people - but they are also facing funding cuts, from £10,000 in 2022/23 to £7,500 in 2023/24.

Of that, £5,000 will be allocated to support the community Youth Officer.

Grants, handed out by the parish council to local organisations and causes, have also been reduced.

The precept for Lake residents will be added to what they pay for the Isle of Wight Council, police and fire services.

The Isle of Wight Council is yet to set its budget, but it is proposing a 4.99 per cent increase.

Elsewhere, Newport and Carisbrooke Community Council and Yarmouth Town Council decided to freeze their precepts, while Sandown Town Council and Freshwater Parish Council have agreed to hikes of 49.9 per cent and 55 per cent respectively.