Rachel Reeves unveils new 'mansion tax' on biggest homes - The Mirror

Contributing sentiments towards policy:

56% : "And so from 2028, I am introducing the High Value Council Tax Surcharge in England.
55% : The Chancellor's move is expected to raise around £400million for the Treasury every 12 months, is set to raise £0.4 billion in 2029/30 and is called a "high value council tax surcharge".
55% : In its response, the Office for Budget Responsibility said: "From April 2028, owners of properties identified as being valued at over £2 million by the Valuation Office (in 2026 prices) will be liable for a recurring annual charge which will be additional to existing council tax liability.
54% : The so-called 'mansion tax' is expected to impact between 100,000 and 200,000 homes, costing between an extra £2,500 and £7,500 a year on houses worth more than £2 million Rachel Reeves has unveiled a tax on homes worth more than £2million to help ensure the richest do their bit.
54% : Unlike normal council tax, which goes into local council budgets, this new charge will go directly to the Government.
54% : £160,001 to £320,000 * H - more than £320,000 The average Band D council tax in England for the 2025-2026 financial year is £2,280.
52% : The so-called "mansion tax" is expected to impact between 100,000 and 200,000 homes, costing an extra £2,500 on homes worth more than £2 million, and £7,500 a year on houses worth more than £5 million.
52% : "Currently, a Band D home in Darlington or Blackpool pays just under £2,400 in council tax... nearly £300 more than a £10m mansion in Mayfair.
50% : Scotland and Wales have different council tax bands.
49% : " In England, council tax is split into different bands, based on how much the property was worth in April 1991.
48% : Earlier this month The Institute for Public Policy Research (IPPR) say reforming property tax reform could slash council tax bills by 3% for four in five households, raising cash to fund vital public services
46% : Council tax bands explained Council tax is split into bands, based on how much the property was worth in April 1991.

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