Abstract
The Council Tax is widely discredited. Would taxing property values be fairer? Could such a tax help to reduce housing market volatility? This report assesses the likely impact of a property value tax.
• A progressive property value tax would reduce the size of median gross
bills by £279 a year compared to the Council Tax.
• Almost two-thirds of households would see bills fall by more than 10%,
while fewer than one-quarter would experience increases of more than
10%.
• A progressive property tax would reduce gross median bills for the poorest
tenth of households by £202, and increase them for the top tenth by
£184.
• Bills for people living in London would rise across the income distribution,
so London may have to be treated separately.
• A property tax could have a supporting role in reducing house price
volatility.
• A progressive property value tax would reduce the size of median gross
bills by £279 a year compared to the Council Tax.
• Almost two-thirds of households would see bills fall by more than 10%,
while fewer than one-quarter would experience increases of more than
10%.
• A progressive property tax would reduce gross median bills for the poorest
tenth of households by £202, and increase them for the top tenth by
£184.
• Bills for people living in London would rise across the income distribution,
so London may have to be treated separately.
• A property tax could have a supporting role in reducing house price
volatility.
| Original language | English |
|---|---|
| Place of Publication | York |
| Publisher | Joseph Rowntree Foundation |
| Number of pages | 51 |
| ISBN (Electronic) | 978 1 90958 620 8 |
| Publication status | Published - Mar 2014 |