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@ISIDEWITHQuestionseconomyStarted 9yrs agoActive 14hrs ago

Should homeowners pay higher taxes on "mansions" valued over £2m?

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.

420 Replies

 @95S9HCWfrom Maine answered…2yrs2Y

Yes, and ban home ownership for those who don't live and/or pay taxes in the UK for a period of time.

 @943TQJTfrom Illinois answered…2yrs2Y

Should be applied regionally. What £2m in London gets homeowners is different to in the Peak District

 @8VMVB5Gfrom Maine answered…3yrs3Y

No, eliminate property tax instead

 @ISIDEWITHDiscuss this answer...9yrs9Y

No, but implement the tax on foreign owned property

 @ISIDEWITHDiscuss this answer...9yrs9Y

Yes, this will help reduce wealth inequality in the UK

 @ISIDEWITHDiscuss this answer...9yrs9Y

No

 @ISIDEWITHDiscuss this answer...9yrs9Y

Yes

 @ISIDEWITHasked…5mos5MO

How might the extra funds from a 'Mansion Tax' improve or detract from a sense of community in your area?

 @ISIDEWITHasked…5mos5MO

Would you support a policy that could decrease the value of high-end properties due to increased taxes?

 @ISIDEWITHasked…5mos5MO

Do you believe that imposing higher taxes on luxury properties is a sustainable way to address income inequality?

 @ISIDEWITHasked…5mos5MO

How might your community change if a significant tax was imposed on the most expensive properties?

 @ISIDEWITHasked…5mos5MO

If you inherited a high-value property with a large tax burden, how might that influence your decision to keep or sell it?

 @ISIDEWITHasked…5mos5MO

What do you think about using higher taxes on expensive homes to help reduce taxes for the less well-off?

 @ISIDEWITHasked…5mos5MO

Should the quality of public services depend on taxing high-value homes more than others?

 @ISIDEWITHasked…5mos5MO

Is it fair for people who have worked hard to afford a luxury property to pay extra taxes on it?

 @ISIDEWITHasked…5mos5MO

Imagine your dream home comes with a hefty annual tax bill because of its value; would that change your aspirations?

 @ISIDEWITHasked…5mos5MO

How would you feel if the government decided to tax the most expensive homes in your neighborhood more heavily?

 @8S2GLHJanswered…3yrs3Y

Some in areas such as London will have seen an explosion in the value of their property but may not necessarily be able to pay such a tax. If these people can be protected (and not forced to move because of the tax), then yes, otherwise, no.