Jump to content
House Price Crash Forum
Sign in to follow this  
Executive Sadman

How Exactly Would A Land Value Tax Work?

Recommended Posts

Would the exact rate be applied on a street by street basis, postcode by postcode? House by House?!

Example - ex-council estate near me is full of semi's in various states of repair, typically sell for £150-200k. Plot size generally around 1/4 acre.

Newish build private estate I live on consists of houses on plots of 1/10th acre or less, but typically sell for £250-350k. Most in good condition.

If its on the unimproved value of the land, the ex-council estate properties would pay more. Its only round the corner, its the same distance to commute to Cambridge. This is likely to be replicated up and down the country. I can't see people on wages far less than people on plots bigger than higher earners than them paying an LVT that is higher without a fight.

Then there's land that would almost certainly get planning permission for things that would yield a far higher rate of council tax per acre than one big mansion

ie an Apartment in Weybridge. Probably pays the top rate of council tax

http://en.wikipedia.org/wiki/2004_Equatorial_Guinea_coup_d%27%C3%A9tat_attempt

Theres at least 24 apartments on that block, and probably yielding in excess of £100k in council tax, occupying a plot no bigger than something like this

http://www.rightmove.co.uk/property-for-sale/property-32672415.html

Which thanks to the regressive nature of council tax, probably yields £4k, not in excess of 100k

Would the latter have to pay 100k or so, as with planning permission for apartments, thats would it would generate?

How likely is that, given the hostility to even a comparatively miniscule 'mansion tax' of a couple of grand?

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   99 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.