500,000 second-home owners face paying twice as much council tax
https://www.thetimes.com/uk/politics/article/second-home-owners-council-tax-hike-pqpdzts7d
Posted by corbynista2029
500,000 second-home owners face paying twice as much council tax
https://www.thetimes.com/uk/politics/article/second-home-owners-council-tax-hike-pqpdzts7d
Posted by corbynista2029
35 Comments
Good. This’ll either mean local authorities have more money coming in or it’ll mitigate the housing shortage in the areas as the parasites sell up.
As with all the other posts on this.
Good.
If people need two houses they should be prepared to pay additional costs for them.
If you think this means house prices or rent come down, you’re wrong.
Investors will just buy the properties at a cut price because people need to sell, and rent out at the same cost.
Would be nice if they can reduce council tax for those of us with only 1 house. Mine is £2361 this year. I’m managing, but I don’t know how people on low salaries can afford that kind of bill.
make having multiple homes unprofitable, it’ll soon turn around
Ah yes over heard two our the buisness owners that I work for talking about this. They’ve just simply filled in a form to say their partners and children are living in their other properties.
Now they’re not hoarding them but they are struggling to renovate and sell them fast enough not to get caught out by the rises.
Council tax should increase exponentially based on the number of homes you own so a second property would be double the standard rate, third would be four times, fourth property would be 8 times.
My guess is this would just make them increase the rent on their other house.
Nothing better than having a housing shortage and people owning multiple houses.
Good! Next, council tax should be revamped so that property owners pay directly proportionate to their value, A £5M proporty only pays about third more than a £500K property despite being worth TEN times more.
Very good.
If you can afford owning 2 houses, then you can as well afford paying more tax.
Could we do the same, or apply some other tax, with non-resident overseas investors who buy property here? Whether or not they rent out the property.
Oh no, my second – wait, I don’t own one.
Never mind.
Honestly? Good, I would be in favour of far more expensive regimes for people who own second homes.
Owing a first home is vital, owning a second is a luxury that denies someone else their chance at a first.
I would implement a policy of raising council tax to 20% per year of the properties value if it’s a second home after the first year of ownership unless;
1. It’s unhabitable and major building works are taking place to restore it
2. It’s being rented to someone on a long term let (ie not a holiday home).
doesn’t this translate into whoever rents that second home pays more council tax?
Well that will achieve nothing other than a token gesture, it’s a small amount for an authority to generate and they’ll piss up the wall trying to manage the getting of the tax and make system changes, all whilst increasing the cost for the tenant.
Good I suppose, but will hardly be expensive for people who can afford two houses. A percentage of the market value for second homes would be far more effective.
Shame it’s only double , should be 5x, and double with every extra home they own.
5x on the 2nd, 10x on the 3rd, 20x, on the 4th, 40x on the 5th…and so on
Nobody needs multiple homes
This is very good news, we need to tax rentierism out of the economy. Landlordism is a massive economic drain.
Exponentially increasingly council tax on multiple properties is a good way of doing this. Just make it get higher and higher the more property you own.
Oh no.
Would have been better to just ban air b&b
500,000 out of a population of 68M.
It’s 0.7% of people that will be affected according to these figures.
What about the millions who are actually struggling?
I don’t really give a fig about 2nd home owners.
Mousehole. If they can afford a second home then they can afford more |!
Good. My mother (a boomer) simply cannot comprehend why I am so against her friends who are living off rental income from multiple properties after having retired early.
Too many boomer plebs have been able to live above their status. This is good and will keep undesirable aspirational types away from p l u. Ditto VAT on schools.
Womp womp. Sell them if you can’t afford it, I know a few million people that need a gaff.
I pay over £4k/year council take for my only property. Since I moved in it was reevaluated and I got shafted. Perhaps if more people were taxed fairly then those of us just wanting to own their home wouldn’t get screwed so much.
Good, fuck these people. Half the houses here are empty most of the year and rents are unaffordable (if you can find them!!) purchasing is impossible if you don’t have “sold my council house down in London”-type “fuck you” money. community is dead. a lot of businesses here have to offer accomodation with the job as it’s impossible to afford on the wages offered 🤣
Good, now the rent goes up, someone has to pay the council tax
Adding on to this, I also fancy high car tax for the second..Nth car, even though i have the second car. It will help me get rid of it
Oh no, whatever will they do…hopefully they sell them and there is a flood of homes available knocking down the prices in areas and allowing young people a chance to afford somewhere to live. No one should be allowed a second home till everyone is housed
About time not every house should have a private landlord making you pay extortionate prices, we need more social housing
A sensible policy on home ownership would be very forward thinking.
It’s quite possible to have a second home as part of inheritance. So the second one gets a gentle increase in taxation – this should exclude holiday hotspots. It’s damaging to communities and local businesses to have properties bought at inflated prices ( see capital gains ) and resulting in the disuse of local businesses and amenities.
For more than 2 homes the taxation rise should be non linear. This non linear increase should affect new builds differently to existing dwellings. We want the new dwellings to be owned British people and to discourage the proliferation of buy-to-let firms.
Capital gains on flipping existing dwellings is needed to strongly discourage excessive profiteering and driving up prices in surrounding areas.
Non residents or foreign buyers should be heavily taxed. No ownership hidden in offshore contraptions. All those fancy London investment homes do nothing for the British people and should be heavily taxed without loopholes.
It still needs to be possible to sell your primary residence and move to a new one without a large tax burden.
Home ownership by citizens should be the priority.
Good start but nowhere near enough. No one should own a second home.
Only for empty none rented housing so most likely a good thing as it mean more rental property, I guess you can get round this by making it an Airbnb though.
Not entirely against this if I’m being honest seeing as we have a major housing crises.