New Home Owners And Snagging Forum
Advice on buying a brand new home => General discussion => Topic started by: Philofacts on November 20, 2012, 09:16:16 am
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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.