Council tax raid raises urgent property valuation questions - Property Industry Eye

Contributing sentiments towards policy:

59% : Ryan Mathews, managing director, Stirling Ackroyd Surveyors, part of LRG, commented: "After weeks of speculation and an extraordinary start to Budget day, we finally have clarity on property taxation.
58% : Properties worth more than £2m in England will face a new annual 'mansion' levy from 2028, chancellor Rachel Reeves announced in yesterday's Budget.
57% : The move, which Reeves described as a step to tackle long-standing wealth inequality in the country, will require the valuation of homes in the top council tax bands - F, G and H - for the first time since 1991.
56% : The headline measure for our sector is the new High Value Council Tax Surcharge on properties worth £2m or more.
55% : The tax, added on top of existing council tax, will rise through four separate bands depending on property value.
54% : There have been calls for a full reform of the council tax system as it is currently based on the values of properties in 1991.
44% : "The wider council tax revaluation for bands F, G and H that some had predicted did not materialise.
42% : The government has confirmed this charge will be based on updated valuations, but with council tax bands frozen since 1991, there is no current register of property values for homes in this bracket.
39% : But the policy has drawn criticism from the Institute for Fiscal Studies (IFS), which argues the measure does not go far enough and that a revaluation of council tax bands is long overdue.

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