Additional property tax on high value properties

Meeting: 
MQT on 2014-12-17
Session date: 
December 17, 2014
Reference: 
2014/5132
Question By: 
Stephen Knight
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor

Question

Given that you say you are "open to proposals for additional council tax bands for more valuable properties, which would tend to reduce demand at the top of the market" (MQ214/4266), why have you been so outspoken against similar proposals that have been dubbed a 'mansion tax'?

Answer

Answer for Additional property tax on high value properties

Answer for Additional property tax on high value properties

Answered By: 
The Mayor

I oppose a homes tax that would almost exclusively tax London, would hit family homes hardest, would push some people out of their homes and would undermine the viability of many new mixed-tenure developments in London, ultimately choking off the supply of affordable homes.