Mansion tax could see Council Tax double for many in 2025 budget

Contributing sentiments towards policy:

57% : "It's a reform that supports working families, strengthens local services and lays the foundations for a fairer tax system.
55% : The move could see homes in council tax bands F, G and H and hit 100,000 hit with a new surcharge, with the threshold starting at £2 million.
53% : More than 100,000 high-value properties will pay a new 'mansion tax' for homes worth more than £2 million.
53% : Some 2.4 million properties in the top three council tax bands could be revalued to determine which would be subject to the surcharge.
51% : The Institute for Public Policy Research (IPPR) recommended a 100% rise in council tax for those in the most expensive, band H homes, likely to be worth more than £1.5 million.
49% : " The IPPR also suggested a surcharge on foreign buyers purchasing UK homes should be raised from 2% to 6%, partly with the aim of deterring speculation in the housing market. Property taxes overall need reform, which should include a full council tax revaluation by the end of the current Parliament, with a view to paving the way for a "proportional" property tax, the paper suggested.
42% : The think tank added that this would rebalance the tax, which it said has become unfairly weighted, with those living in smaller, cheaper homes on average paying a larger amount proportionally.
42% : It gave the example of residents in Kensington, west London, who on average pay less in council tax than people in Blackpool, while owning more expensive homes.
37% : Aditi Sriram, economist at IPPR and lead author of the paper, said: "The current council tax system is unfair, inefficient, and long past its sell-by date.
29% : Rates on band F and G homes should also be raised by 50%, the IPPR said, while those in the cheapest council tax bands should have their tax bills slashed.

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