All council tax paid by households (not businesses) include the normal principle authority & police costs etc to cover their annual budgets. In cases where a town council exists, all households within the town council boundaries will have an additional cost per household in respect of the town council's annual running costs and planned expenditures although this is still collected by the principle authority on their behalf.

In the case of Towcester Town Council, West Northamptonshire Council (as the principle authority) is responsible for collecting the main community charge and the charge on households within Towcester will also include an amount in respect of Towcester Town Council. The town council's charge is a small proportion of the total community charge and the annual amounts for Towcester residents per band D property are shown in the Annual Precept Levels section at the side. The town council's element is then paid to Towcester Town Council by West Northamptonshire Council in 2 instalments in April and September annually.

Each year, the town council calculates the amount of money needed to provide its services and planned projects and then calculates and deducts the income which it expects to receive from other sources such as bank interest, external grants and hire charges in respect of our venues, etc. The remaining balance provides a calculated expenditure shortfall showing the estimated revenue required in order to provide services and any capital projects and reserves which are planned for Towcester for the year ahead.

This shortfall is called the PRECEPT and is wholly funded by local residents living within Towcester and is the amount levied on West Northamptonshire Council which is then collected by them as a proportion of the total community charge paid by Towcester households. Towcester Town Council's main income is therefore provided by the residents of Towcester alone.

Towcester Town Council works hard to ensure that we continue to provide our core facilities and services to residents but remain mindful of the financial effect.