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fru-gal

What Effect Do You Think A Mansion Tax Would Have On Sentiment?

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If the mansion tax is introduced what effect do you think it will have on sentiment (especially at the top of the market)? Will it have the same sentiment effect of reducing house prices that HTB has had on increasing them, even in areas where HTB hasn't really been used (London)? What do you think?

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I'd think the insane prices are having more of an effect on sentiment

Frome Standard - Letters: How will our children afford a decent home?

"I am only a fat middle-aged man with a very small brain, but please can someone explain why falling fuel bills are good but falling house prices are not? I have three sons, while they are at least a decade off the point where they will be looking to set up their first home, the policies that will lead to them having – or not having a home in the future are already being decided – or not as the case may be..."

Edited by northshore

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Not huge...on a £2million house it would be another £250 a month...less than the 1% probably spend on hairdressers a month.

The real reason the rich are kicking up such a fuss is because property cannot be hidden or moved offshore...its the one tax they know they cant avoid.

A land value tax on surrey/stockbroker belt would be tens of thousands a year...thats what we really need. Something to fairly tax the massive amount of land some private residences occupy, that could easily host a dozen decent family homes, not punitive taxes on a flat in Kensington that takes up little land.

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I'd think the insane prices are having more of an effect on sentiment

Yes, ive posted articles on the past of some annual property tax bills in the US running into six figures. The yanks still buy big houses in expensive areas.

Property tax here, at least at the upper end, is extremely low.

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The real reason the rich are kicking up such a fuss is because property cannot be hidden or moved offshore...its the one tax they know they cant avoid. A land value tax on surrey/stockbroker belt would be tens of thousands a year...thats what we really need. Something to fairly tax the massive amount of land some private residences occupy, that could easily host a dozen decent family homes, not punitive taxes on a flat in Kensington that takes up little land.

The rentier knives are out anyhow: http://www.telegraph.co.uk/news/politics/labour/11455031/Labour-MP-calls-for-police-to-investigate-anti-mansion-tax-leaflets.html

...called for the Metropolitan Police to investigate Knight Frank for an alleged breach of electoral law after distributing leaflets entitled "Mansion Tax Explained" in the marginal seats of Battersea and Westminster North.

The letter reads: “Ahead of the General Election on 7th May, you will no doubt be considering the implications of the result on your investments and assets.

"For those with a stake in the upper end of the housing market, the threat of a potential Mansion Tax is one obvious area of focus. We felt you would be interested in this particular issue and the attached insights from our Global Head of Research Liam Bailey.” It goes on: “The election result will determine the potential for the introduction of a Mansion Tax, or a variant. Anything other than a Labour majority government (current odds 8/1), a Labour/Liberal Democrat coalition (17/2) or a Labour/SNP coalition (6/1) is unlikely to lead to its introduction. The current odds on a Conservative majority are 5/1.”

Possibly sadder that voters might not be aware of the policies they're voting for/not.

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Frome Standard - Letters: How will our children afford a decent home?

"I am only a fat middle-aged man with a very small brain, but please can someone explain why falling fuel bills are good but falling house prices are not? I have three sons, while they are at least a decade off the point where they will be looking to set up their first home, the policies that will lead to them having – or not having a home in the future are already being decided – or not as the case may be..."

Frome Standard - Letters: How will our children afford a decent home?

"I am only a fat middle-aged man with a very small brain, but please can someone explain why falling fuel bills are good but falling house prices are not? I have three sons, while they are at least a decade off the point where they will be looking to set up their first home, the policies that will lead to them having – or not having a home in the future are already being decided – or not as the case may be..."

Excellent! Im just down the road in Gillingham. Frome FM also decent, if you like non-chart playlist tunes.

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http://www.theladybuilder.co.uk/

The gal in the hard hat was on Sky News giving her opposition to the mansion tax earlier.

£2million in London isn't a lot of money apparently.

For balance they had an investment trust fella on too. :lol::lol:

VI's agogo.

C4 news i think it was did an interview with the residents of Ed millibands street on their views on the tax a couple of weeks ago.

Oddly, the old codger, who paid £37k or something in the early 70s said it was OK, he has done well out of property and didnt mind paying the tax (contrary to the VI propaganda that anything worth over a million is owned by a little old lady who never progressed beyond being a dinner lady) the people who said it was unfair were the young(ish) couple of lawyers who just splashed out 3 million on the place. Apparently another £250 a month would prove 'very difficult' for them to find.

Either theyre liars (a certainty, being lawyers) or overextended themselves to ludicrous levels to buy.

As a HPCer and not a socialist of course Im more interested in its ability to drive down the bubble than I am its ability to raise revenue.

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http://www.theladybuilder.co.uk/

The gal in the hard hat was on Sky News giving her opposition to the mansion tax earlier.

£2million in London isn't a lot of money apparently.

For balance they had an investment trust fella on too. :lol::lol:

VI's agogo.

Well, £30k isn't a lot of money either, but they have no problems taxing that wage at 20%.

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....they should not call it a mansion tax.....all they should do is realign the existing council tax to take into consideration of the new valuations of property.....yes I know CT is distributed differently and will affect all people......but it can be tweaked to make it fair for all people.....nobody asked for their homes to be worth what they are now costing.....the system is broke.

...there are people owning property worth millions paying a fraction of the CT others do for houses worth far less.....this requires sorting. ;)

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Given that politicians, like second hand house salesman, are prolific liars, particularly around an election or "troughing time" as I affectionately call it, do we really think that the Labour arm of the Westminster cartel will actually introduce a Mansion Tax, remember that most of these fauxcialists live in multi million pound houses in London with multiple properties and BTL enterprises, it seems unlikely that they will actually risk implementing a policy that puts them out of pocket doesn't it?.

My prediction is that the mansion tax idea will be played down, reversed, watered down to insignificance or simply forgotten:

"Remember, manifesto promises are not subject to legitimate expectations"

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Given that politicians, like second hand house salesman, are prolific liars, particularly around an election or "troughing time" as I affectionately call it, do we really think that the Labour arm of the Westminster cartel will actually introduce a Mansion Tax, remember that most of these fauxcialists live in multi million pound houses in London with multiple properties and BTL enterprises, it seems unlikely that they will actually risk implementing a policy that puts them out of pocket doesn't it?.

My prediction is that the mansion tax idea will be played down, reversed, watered down to insignificance or simply forgotten:

"Remember, manifesto promises are not subject to legitimate expectations"

Yes, it is their main policy. If they don't introduce it then a lot of people would never vote for them again. Also, MPs will be able to use their expenses to pay their mansion tax so it won't affect them :rolleyes:.

The Tories introduced ATED which is not dissimilar to the MT and that has gone well, they have got a lot more tax revenue than they expected.

Edited by fru-gal

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