Wealthy owners of Chelsea’s so-called “ghost homes” are about to get a very serious fright – their council tax bills are set to DOUBLE.

Last night Town Hall chiefs voted to escalate council tax on second homes across Kensington and Chelsea as part of the new budget for 2026-27 – with the new charges taking affect from 1st April.

There are nearly 8,000 properties classed as second homes in the Royal Borough — defined as furnished homes that are not someone’s sole or main residence. That represents around 8.8 per cent of all housing stock, nearly one in every eleven homes.

For a standard Band D property, the current total council tax bill – including the Mayor of London’s precept – is roughly £1,643 per year. If that property is classed as a second home, the bill will jump to around £3,286. 

Owners of larger Chelsea homes — common in grand stucco terraces and mansion blocks — could see annual bills surge to as much as £5,000. That is before any additional garden square levies are taken into account.

The premium will apply to pieds-à-terre, overseas-owned investment flats and “buy-to-leave” properties that are furnished, but not used as a main residence. It will not apply to full-time resident homeowners or properties that are properly let to tenants.

Supporters of the policy insist the premium will encourage owners to rent out vacant homes, bring properties back into use and ensure part-time residents contribute more to local services. During the council’s consultation, 60 per cent of respondents backed the move.

With adult social care costs rising sharply and government funding constrained, the council faces mounting financial pressures.

Town Hall treasury boffins estimate the measure could raise around £12 million a year in additional revenue, but a modest sum set against the borough’s looming £108 million funding gap over the next four years. 

Doubling council tax on second homes is politically easier than imposing steep increases on permanent residents. Whether it will truly revive Chelsea’s quieter streets — or simply become another manageable expense for the global wealthy — remains to be seen.

One thing, however, is clear. Leaving the lights off in Chelsea will come at twice the price.