Martin Lewis is urging households to check their council tax band as soon as possible and save thousands.
The money-saving expert advised households to check if their council tax band is higher than similar homes.
Speaking on his ITV show on Tuesday (16 January), Mr Lewis explained how the council tax banding system has not been changed in England and Wales since 1991.
“This is why so many people may well be in the wrong band around 400,000 estimated,” he said.
Mr Lewis then shared how people can check their council tax banding.
The money-saving expert advised households to check if their council tax band is higher than similar homes.
Speaking on his ITV show on Tuesday (16 January), Mr Lewis explained how the council tax banding system has not been changed in England and Wales since 1991.
“This is why so many people may well be in the wrong band around 400,000 estimated,” he said.
Mr Lewis then shared how people can check their council tax banding.
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NewsTranscript
00:00 So, council tax.
00:02 Check and challenge.
00:03 I first came up with this 17 years ago,
00:04 it made headlines back then,
00:06 and so many people have succeeded and saved since then.
00:08 I make no apology for doing it again with you.
00:10 This is the key.
00:12 In 1991, bans were stopgap valuations,
00:15 it was meant to be short-term.
00:17 People, it was called second-gear valuations,
00:19 driving their car, someone sitting next to them going,
00:21 "Ban D, looking at how many rooms, ban E."
00:23 That was how our council tax were valued,
00:25 and it has not been done again since then in England and Scotland,
00:30 which is why so many people may well be in the wrong ban,
00:33 400,000 estimated.
00:35 I have two checks.
00:37 The first check is the neighbours check.
00:39 Is your ban higher than similar,
00:42 and it should be as identical as possible, close to you,
00:45 same number of bedrooms, that type of stuff?
00:46 You want to know what your house was worth in 1991,
00:49 because that's how they choose what ban you're in.
00:52 These are the 1991 prices you need to look at.
00:55 This is for England. It is different in Scotland.
00:58 So there you see those bans.
00:59 Under 40 grand houses, there aren't many of those left anymore, are there?