Share your views on the new 'mansion tax' – and how you might be affected

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HexaOrbit

A new 'mansion tax' is set to hit homeowners in England, with a council tax surcharge for properties valued over £2m from next April.

The government has announced that households owning homes worth this much will face an annual increase in their council tax bill. The move aims to widen the gap between those who own expensive and less expensive homes, generating more revenue for local councils.

According to Rachel Reeves, the surcharge will be implemented in four price bands: from £2m-£2.5m, it will cost £7,500 a year; above £2.5m up to £3m, it's £10,000 annually; and over £3m up to £4m will cost £12,500; and those properties valued at £5m or more will pay an astonishing £15,000 per annum.

For property owners in England, this new rule may become a crucial consideration while buying or selling. Could the potential hike deter you from purchasing that luxurious home? Or perhaps, if you already own one, it might make it harder to sell for a higher price.
 
This mansion tax thingy is gonna hit some rich folk hard 🤑. I mean, who doesn't love a good £7,500 annual increase in their council tax bill, right? Just kidding, that's not funny at all. But seriously, it's like, if you're gonna be one of the lucky ones to own a multi-million pound home, shouldn't you be contributing a bit more to society? I don't know about others, but for me, it won't stop me from buying or selling my dream home. The UK needs that revenue, and councils need funding to keep up with the costs of living, right? But maybe some people might think twice before splashing out on that fancy new pad. Can't blame them really 😊.
 
Umm.. £2m mansion tax is kinda steep 🤑 I mean, isn't that gonna affect a lot of rich people who just wanna upgrade their homes or retire in the countryside? And what about inheritance? Like, if someone inherits a £5m house from their parents, should they pay the whole £15k? That's a big chunk of change 💸. Plus, how's this gonna affect the property market? Are people just gonna wait until the surcharge kicks in or will they start looking for homes outside England? It seems like it could be a real game-changer 🤔
 
😂🏠💸 council tax surcharge = 🤯💰 rich people's tax 🤑👀 and poor people are like "wait what i gotta pay more?" 🤷‍♂️ meanwhile, £5m homes get to be like the ultimate status symbol 🎉 congrats UK! 👏
 
I gotta say, I'm all for the government trying to get more revenue out of homeowners 🤔. It's not like they're just going to be sitting on their hands collecting taxes from people who can afford to pay more 💸. But at the same time, £15k a year is still a pretty penny! 😱 Can you imagine getting that kind of tax bill? I mean, I know some people would love to live in a £5m mansion 🏠, but come on! It's not like they're going to be swimming in cash after paying all those taxes 💸.

I'm curious, though - how many people are actually gonna get hit by this "mansion tax" 🤷‍♂️? I mean, there are still plenty of properties out there that are worth less than £2m. Are they gonna be left untouched while the rich folks foot the bill? 🤔 It's an interesting question, and one that might affect a lot of people who thought buying or selling a luxury home was a good idea 💸💥
 
I'm kinda surprised they're implementing a mansion tax 😐. I mean, £2m is not exactly 'luxury' territory anymore, especially with prices in London and other big cities being what they are. It feels like the government's trying to generate more revenue without really addressing the root issues with housing affordability. What's interesting is how this might affect the market - will it deter people from buying those high-end homes or make them harder to sell? I'm not sure, but one thing's for sure, it'll be a conversation starter when people are looking to buy or sell their properties 💸
 
I'm not sure I agree with the idea of a 'mansion tax'... "Those who do not learn from history are doomed to repeat it." The government is trying to collect more revenue, but might it just drive away potential buyers and sellers? 🤑
 
idk about this mansion tax thing... 🤔 i mean, £2m is quite expensive, but £15k is steep! 🤑 u think some ppl will be like "you know what, ill just move abroad" or something? 😂 or maybe it'll deter some from buying those fancy homes in the first place. i guess its good that local councils get more revenue tho 💸 but for ppl who already own them, its a whole different story... 🤷‍♀️
 
🤔 I think the government is kinda trying to balance things out by introducing this 'mansion tax'. On one hand, local councils need more funds to maintain their services and infrastructure, but on the other hand, this could lead to some property owners feeling a bit...stung 🤑. I mean, £15,000 annually for a house above £5m? That's a pretty penny 💸. It might make it harder for people to afford those luxury homes, which is probably not what they had in mind when buying their dream home 😐. But at the same time, if it means more revenue for local councils and better services all around, I guess it's a trade-off 🤝. For me, personally? I'm good with my modest home, so this doesn't affect me directly 😊.
 
I'm not sure what's more shocking - the fact that people are willing to shell out £15k for a house or that they're expecting a 100% increase in their council tax bill 🤣🏠💸. I mean, who needs that kind of money to pay the bills, right? And what's up with this "mansion tax" thing - sounds like something from a Bond villain's lair (aka a wealthy Brit's dream home) 😂👊. Can you imagine trying to sell a £5m mansion and having to throw in an extra £1k or so just because it's a bit too fancy for the council? Buyer's remorse, am I right? 🤦‍♂️
 
I'm not loving this mansion tax thing 🤑💸. I mean, £15k per year is just crazy talk! Like, who can afford that kind of increase on top of their council tax? It's like they're trying to price out the rich folks and make them move to the suburbs. And what about people who own these massive homes as investments or for family members with disabilities? Are they supposed to foot the bill too? 🤷‍♀️💔
 
I'm so done with rich people getting richer 🤑. This 'mansion tax' is just another way to squeeze more cash out of the system. I mean, who exactly benefits from this? The councils, of course! They get a nice chunk of change to play with 🎲. But what about all the poor souls stuck in smaller homes, struggling to make ends meet? Do they really need to be hit with higher council taxes too? It's just more proof that the system is rigged against the little guy 🤦‍♂️. And let's not forget, this tax won't even make a dent in the huge price differences between expensive and affordable homes 🚫. Just another example of how the haves are getting away with it 💸.
 
[Grumpy Cat face] 🐱😒 The government thinks they can just tax our dreams 😴💸 like there's no such thing as 'price is right' 💰🏠 And what's up with the four bands? It sounds like they're trying to confuse us 🤔😂 Like, who even keeps track of that much money 💸🤑
 
🤷‍♂️ so they're gonna tax people even more just because their house is worth way too much money lol what's the point of making those who are already super rich even richer? and £15k per year, that's like a small country 🌏💸 anyone with a decent savings account could just put it on a credit card and be done with it anyway
 
I don’t usually comment but... I think this mansion tax thing is kinda unfair 🤷‍♂️. Like, what's the point of charging more on super expensive homes? It's not like they're not paying their fair share already 💸. And it's not just about the money, it's also about how it's gonna affect people who are already struggling to afford housing in this country 🏠.

And have you thought about all the wealthy foreigners who own these mansions? They'll be the ones getting hit with this tax, and they might even sell their homes and move elsewhere 🚫. It's like the government is just trying to keep the money within England without thinking about the bigger picture 🌐.

I don't know, maybe I'm just not seeing it from the right angle 🤔. But still, I think this mansion tax is a bit too much 😒.
 
Ugh, another tax on the wealthy 🤯. I mean, I get it, they want more revenue for local councils, but do we really need a "mansion tax"?! It's just going to drive up property prices even more and make it harder for people to own their dream homes.

And £15k per year for properties over £5m? Are you kidding me?! That's just crazy 💸. I mean, what's next? A tax on cars or something? It feels like they're just trying to punish the rich for being successful 🤑.

I'm all for fairness and equality, but this just seems like another way to penalize people for owning a nice home. And what about the impact on the property market?! This could totally scare off potential buyers who are looking at homes in these price bands. Not good news for anyone trying to get into the market 📉.
 
🤔 I'm so stoked about this "mansion tax" thing... It's like the government is finally giving those super rich people a reason to think twice before splurging on their mansions 😂. I mean, come on, who doesn't love the idea of making it more expensive for them to buy and sell their fancy homes? It's like a win-win for everyone (except maybe the rich folks 🤑).

And let's be real, if you're making that kind of cash, you should probably be able to afford the slightly higher council tax bill 😎. I'm not saying it's going to be easy or anything, but I think it's about time those people started contributing a bit more to society 💸.

Plus, it's always good to have a little reminder that there are rules and taxes for everyone, regardless of how much money you're making 🙅‍♂️. So yeah, bring on the "mansion tax" and let's see how those luxury home owners react! 🤪
 
🤔 I'm not sure about this mansion tax thing... £15k a year is a lot of money! How are they planning on ensuring it's fair and not just a way for councils to make more cash? What's the actual benefit here, really? Is it gonna help fund essential services or just line some pockets? I need to see some solid proof that this is actually going to make a difference, not just another tax hike. Sources, anyone? 📊
 
I'm so confused about this mansion tax thingy 🤔. Like, I get what they're trying to do - help local councils with their funds and all, but isn't the idea that people who have more money should contribute more already kinda old news? 😒 I mean, if you've got a £2m house, that's already super expensive compared to most peeps. It just feels like we're creating a whole new level of inequality, where those with even more cash get hammered even harder 💸.

And honestly, have they thought about how this will affect families who own their homes? Like, what if the parents want to upgrade to a bigger place and can't afford it because of this tax? It's just not fair 🤷‍♀️. I wish they'd consider all the variables before implementing something like this 👏.
 
Wow, £15k per year is insane!!! 🤑🏠 Like, what's next? A tax on water? Interesting how they're trying to close the wealth gap by taxing those who already have a lot 💸😒
 
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