OXFORD residents are set to be hit with a three per cent increase in council tax.

The City Council's Executive Board will consider the proposal at a meeting about the council budget next Tuesday.

Under the plans, Band D council tax would rise to £307.80 a year.

The council say the proposed four-year budget is 'fully balanced' and 'retains front-line services and continues to support the most vulnerable'. It includes parking charge freezes, money for the living wage, various investment projects and a £200,000 increase in the homelessness budget.

Councillor Ed Turner, Board Member for Finance and Asset Management, said: "The Government grant is reducing to zero in 2019, interest rates remain low and therefore affect the returns on council investments, and we are of course exposed to wider economic risks that might affect the local economy, investment income and commercial property.

"Our commitment to the 'Oxford Model', with wholly owned companies, puts us in a better position than many local authorities. Clearly, there are difficult decisions to be made and there are modest increases in some charges. But by being willing to prioritise, we will safeguard front-line services and in particular support the most vulnerable in Oxford."

Following the Executive meeting, the Budget with go out to public consultation, with the final decision to be made in February 2019.

The Council says measures in the proposed budget for 2019/20 include:

Homelessness and housing

• £200,000 increase in homelessness budget to £1.7 million a year, with leisure services made available for free to homeless pathway clients

• Review how best to use the Government’s decision to lift the restriction on borrowing in the Housing Revenue Account (HRA) and how both this and OCHL can best address the city’s housing shortage

• Implement Premium Council Tax of 100 per cent additional tax for properties that have been empty for more than two years with effect from 01 April 2019. These rates will rise to 200 per cent for properties empty for 5-10 years and 300 per cent for those empty for over 10 years, when the City Council is permitted to so implement these measures.

• £73 million for OCHL to buy properties in Barton Park for social rent and other purchases and new build over the next four years

• An additional £600k to take forward the South Oxford Science Village project with partners, following the inclusion of the site to the south of Grenoble Road in South Oxfordshire District Council’s Local Plan.

Investment

• Capital expenditure will amount to £192 million over a four year period including:

- £4.6 million towards community centre improvements

- £14.8 million investment in ODS including new zero emission fleet

- £2.3 million to expand the Museum of Oxford

- £250,000 for new cycle infrastructure, to be part of matched funding with other Public bodies

- £24k for installation and operation of drinking fountains in three parks.

Inclusion

• £5 million a year to support people in poverty including Council Tax support, hardship fund to assist Universal Credit claimants and concessions for Council leisure facilities, garden waste and pest control

• £4 million in Disabled Facility Grants

• £34k to create an accessibility app to make it easier for people with a disability to City venues

• £20k to promote the Oxford Living Wage towards to local businesses and other organisations, and guarantee it to the Council's workforce

Parking

• Park and Ride charges frozen

• 0-2 hour off-street parking charges frozen.