Mansion tax plans unveiled as key details emerge
Original Article Summary
Revaluations of properties worth more than £2m will be carried out every five years
PropMatch Curated Analysis
The UK government has launched a formal consultation on a High Value Council Tax Surcharge targeting residential properties in England worth £2m or more, due to take effect from April 2028 and expected to raise £430m annually. Valuations will occur every five years, with the next revaluation in 2033.
Investor Relevance
Investors holding or acquiring high-value residential properties — including prime London assets, luxury holiday lets, and high-end development stock — face a new recurring tax liability from April 2028 that will increase annual holding costs and may affect pricing, yields, and exit strategies for assets above the £2m threshold.
Original Source:
Property Industry EyeStay Updated
Subscribe to our weekly briefings for curated property news and insights