After the Council Tax: Impacts of Property Tax Reform on People, Places and House Prices

Chris Leishman, Glen Bramley, Mark Stephens, David Watkins, Gillian Young

Research output: Book/ReportCommissioned report

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.
LanguageEnglish
Place of PublicationYork
PublisherJoseph Rowntree Foundation
Number of pages51
ISBN (Electronic)978 1 90958 620 8
StatePublished - Mar 2014

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Tax
Property tax
Tax reform
House prices
Property values
Median
Household
Market volatility
Housing market
Price volatility
Income distribution

Cite this

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After the Council Tax: Impacts of Property Tax Reform on People, Places and House Prices. / Leishman, Chris; Bramley, Glen; Stephens, Mark; Watkins, David; Young, Gillian.

York : Joseph Rowntree Foundation, 2014. 51 p.

Research output: Book/ReportCommissioned report

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AU - Bramley,Glen

AU - Stephens,Mark

AU - Watkins,David

AU - Young,Gillian

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N2 - 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.

AB - 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.

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BT - After the Council Tax: Impacts of Property Tax Reform on People, Places and House Prices

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