Topic: | Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax | |
Posted by: | David Fox | |
Date/Time: | 20/04/15 17:27:00 |
I agree with Sam, and the others, who've said that instead of the poorly-named Mansion (or London + SE) tax, there should simply be an extension of the council tax rates to give a more equitable spread. However, it shouldn't be based on some presumed value, which is too subjective, and changes so rapidly that valuers are then having to try to approximate today's value to what it might have cost in the early 90s. Instead, it should be based on how big the house/flat actually is. Say: Band A 50 square metres and below, rising in 50m increments for each band, up to perhaps 600 sqm (which is certainly big enough to be a mansion) - maybe going to 100 sqm increments above 300 sqm, if they didn't want too many bands. This would not only have the value of certainty, and only need to be done once, but would also make it a lot simpler to compare homes for buyers, as all home details would have to display floor area, making it easy to work out price per metre. The new system (like the current one) should retain the rule that any extensions only increase the banding once the house is sold - otherwise the tax distort's people's choices on upgrading the property. Of course, it might be harder to sell a change like this to those outside the SE as they might think it will affect them too... David |