Friday, September 24, 2010
More support for LVT
Eric Pickles's decision to rule out property revaluation for council tax has pleased a lot of people. But the decision is disappointing, and public opposition to revaluation misplaced. There's no reason why a revaluation must lead to higher council tax bills on average. And the current system is deeply unfair. A revaluation of UK property for council tax is long overdue. The council tax system is based on the principle that those with more housing wealth pay more council tax. Sounds fair, right? So it's unclear why a revaluation of housing that's currently taxed on 1991 values should wind so many people up. But special pleading is at its worst when it comes to property. Property ladder devotees know that their pimped-up homes might push them up a band, so they make more noise.