Reducing Council Tax following vast reduction in Sheltered/Supported accommodation property prices

B1936

The 70 apartments in which we live were sold in in 2017 for amounts around £200,000 and are now selling for between £100,000 to £150,000. There are 1,2,and 3 bedroom apartments with Bands set at C,D and E. All of them have decrease in value by 40% to 60%.in the 5 or so years since built. We paid £148.000 in Dec 2020 for an apartment that was originally £211,000 and given Band D and prices are still lowering.
I know that this is happening in other parts of the country and I am asking if it is possible to appeal the council tax banding?
With care cost increasing by +12.5%, Electricity +95%, community and wellbeing costs +6.5%, BT Broadband + just under !0% and council Tax +3% any ideas guidance would be helpful.
Barrie.

lincroft1710

Sadly no, economic factors (e,g. house price increases/decreases) are not a reason to challenge a CT band. So if the value of the apartments had increased rather than decreased, equally the bands couldn't be increased.

Albermarle

You can only really appeal if your property is at a higher band than other seemingly similar properties, in the same postcode/street/block.