Currently, the UK does not tax residential property on an annual basis. The "Mansion Tax" is a proposed annual property tax on homes valued at or over £2 million that would increase tax revenue to allow for a decrease in tax rate for low earners. Proposals estimate that properties valued between £2m and £3m would pay £3,000 per annum, but properties over £3m would pay considerably more. Commentators have suggested that in order to raise the projected £1.2bn, the Mansion Tax payable on homes over £3m would have to be £28,000.
@4WS739J3yrs3Y
Yes, but base worth on area prices instead of one blanket figure
@4WQVDS23yrs3Y
No, only those worth more than £10m
@4WM99SB3yrs3Y
everyone should pay the same
@4XM8PZB3yrs3Y
Yes, especially since the government has issued the bedroom tax, targeting many lower income families. Having seen local residents forced to move out of their homes because they cannot afford the bedroom tax, they should also bring in the mansion tax. The wealthy have not seen any tax increases under this government, theirs have been cut, yet the lower class families have been far worse off especially due to services cut by the same government that's cutting taxes for the higher class.
No, Implement a land value tax instead.
Yes, but only on properties valued at over £5m.
@96J247Z2yrs2Y
Depending on personal wealth and thw loopholes they already use to pay less tax
@96HFKTR2yrs2Y
Yes, but only if the homeowner owns two or more “mansions” valued over £2m
@96645YYLiberal Democrat2yrs2Y
Yes, if they own more than 50% more than the property itself
@965Z7XT2yrs2Y
yes if they also have a high income where they pay for the mansion
@95TX84L2yrs2Y
Yes, but the value should be 3x the national average house price
@95P5SRT2yrs2Y
no as this causes those in lower classes to suffer
@95MN96Q2yrs2Y
The inceased taxes should be on valued houses/mansions of 5 million £
@95966G82yrs2Y
House tax on high value properties is fair, but for people who can't afford to pay it, there should be a forgiveness system in place, if there isn't one already.
@94HW5GV2yrs2Y
Depends on the mean income of the people living in the property
@94GBQD42yrs2Y
Depends on the finances of the home owner, they may have inherited the mansion.
@94CPHV42yrs2Y
Higher taxes on homeowners over 750k
@9498HHT2yrs2Y
More than now? Or more than other properties?
@946NPJ4Conservative2yrs2Y
Only tax if own more than one company
@946GFJL2yrs2Y
Yes, if foreign owners or owned by a company (any mechanisms individuals use to pay tax).
@946FFV32yrs2Y
On multiple home ownership
@946CD9P2yrs2Y
No but they should be guided to make profit off the land (solar farming ect) and tax it highly
@946BL2K2yrs2Y
Yes, But tax the unimproved value of the land instead
@946BL2K2yrs2Y
No, But tax the unimproved value of the land instead
@945H8GM2yrs2Y
Focus on taxing second home ownership.
@9454R4W2yrs2Y
yes but household income should also be taken into account
@943J8QJ2yrs2Y
Higher tax for income rather than items
@93Y39DX2yrs2Y
Regardless introduce a tax on the unimproved value of land
@93X5XXZ2yrs2Y
Yes, but dependent on the price of the property when they brought it.
@93T3S46Conservative2yrs2Y
Have you seen the price of houses in the south? This questions lacks a regional understanding. If someone works hard and buys a home why should they be taxed agaib?
@93J4J2W2yrs2Y
I think there should be no tax lol
@93BCKV32yrs2Y
Yes, but the limit should vary based on the area of the country
@92XQYXR2yrs2Y
Exponential increase of property prices is not a reflection of the homeowners wealth, taxation on 2nd homes would be more appropriate
@92R955ZLiberal Democrat2yrs2Y
This is arbitrary. Yes there should be much more progressive income and wealth taxation but not just picking an asset class and value and levying a tax on it arbitrarily.
@jexflies2yrs2Y
No, taxes should be based on income and not what property you have
Yes, and implement higher taxes on additional properties, including those intended for rental
@92PRBWN2yrs2Y
No, as the £2m figure is not representative of the U.K. as a whole, nor does it take into account needs (family size etc.)
@92PB2RP2yrs2Y
Yes in the form of higher council taxes in order to reduce the council tax for poorer council wards
@92L4VVS2yrs2Y
Check that they are in a position to
@92KV6N82yrs2Y
Not if its their only property that they actually live in
@92KS9H32yrs2Y
Needs to be tied to the location of the home, 2 million is not a mansion in London.
@92JT2DC2yrs2Y
Only if it is their second home
@92JLLL7Conservative2yrs2Y
Yes but only slightly whilst making it harder to avoid tax and increase sentences for doing so
@92GGL8R2yrs2Y
Housing should not be private property and mansions should not be used as housing. Instead, we must work with homeowners to convert them into more useful things such as shelters, hospitals, and schools.
@92DXJDP2yrs2Y
Yes and tax second homes on the higher rate
@92DCHHG2yrs2Y
Yes but only slightly and ensure people cannot avoid tax
@92D97LC2yrs2Y
Yes but only slightly higher and negate the ability to evade tax
@92C9RV72yrs2Y
No, it should be a graduated system rather than set at a specific arbitrary number and should take into account the varying costs of housing in different areas. And homeowners should pay more for second homes.
Yes, but make the value higher than £2m.
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