Author Topic: Mansion tax is coming  (Read 6837 times)

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Philofacts

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Mansion tax is coming
« on: November 20, 2012, 09:16:16 am »
George Osborne and Nick Clegg have drawn up plans for a £2bn mansion tax by creating new council tax bands for homes worth more than £1million.
Under the proposals there would be two or three new council tax bands.
There are plans for one of these new bands to target homes worth more than £2million with a special levy equivalent to 1% of the property value every year.

However, Communities Secretary Eric Pickles, has destroyed computer records of council tax valuations in a bid to sabotage the plan.

The new bands would mean re-valuing homes currently in bands G and H but not others and would take three years to fully implement.
Homeowners in London would be hardest hit when they receive the new bills in April 2015.
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