Westminster Council has announced plans for a voluntary ‘mansion tax’ on buildings worth more than £10m in a bid to freeze council tax for other residents.
The next government must reform council tax in England to end the ‘absurd situation’ of basing it on relative values in 1991, the Institute for Fiscal Studies has said.
People would rather the government introduce a higher rate council tax band on the most expensive homes than a mansion tax, a survey by the HomeOwners Alliance has found.
