Waltham Forest residents are facing a council tax rise of almost six per cent from April this year. 

The council’s proposed budget, due for final approval in early March, will see band D council tax bills rise to £2,055, an increase of £116. 

This includes an almost 10pc increase in the portion that goes to the Greater London Authority, which accounts for about a fifth of taxpayers’ bills. 

Strategic director of finance and delivery Jon Turnbull said the planned council tax rise is in line with the “vast majority” of other London councils. 

He added that almost two thirds of households in Waltham Forest are in either band B or band C properties, meaning their bills will only rise to £1,598 and £1,827 respectively. 

The council manages a £19.5million scheme to support 9,700 households in the borough with council tax discounts, three quarters of which is funded by government grants. 

Other key changes to hit residents include a social housing rent hike of 7pc – an average monthly increase of about £30 per household. 

Excluding spending on schools, the council’s overall spending power will increase by 8.4pc to £271m from April, with about half coming from council tax and the remainder from government grants and business rates. 

According to the budget report, the borough’s growing reliance on council tax “emphasises” the need to increase tax-paying households in coming years. 

Despite a predicted budget gap of £11.5m next year, the council has not published details of any cuts or savings and appears to be using some of its reserves to cover costs. 

Alongside this, the council has set aside a “working balance” of about £15m in its general fund. 

Mr Turnbull has signed the council’s budget off as “overall robust” but warned that there may be a need for “further efficiency savings” in the future. 

For example, the council’s schools budget is seeing “pressures” relating to special needs that have led to a deficit and income to the housing budget has declined in real terms. 

Overall, Mr Turnbull told the committee that Waltham Forest Council is at the “lower end” of financial risk, compared to other London councils. 

However, a particular concern was funding North London’s new incinerator and waste processing plant in Edmonton, with the finance head warning that cost – last estimated at £1.2billion – could “change rapidly”. 

The budget report will go before a full council meeting for final approval on March 2.