Fears are growing over the impact on the property market of rumoured mansion tax changes, with tens of thousands of relatively modest homes in London and elsewhere drawn into the net if implemented.
Property professionals say the changes could make it harder for homeowners to move up the housing ladder.
The mansion tax, which will be payable as a yearly surcharge to council tax, is currently set to affect only homes valued at £2million or more.
But it threatens to go from a wealth tax to a ‘terrace tax’ if incoming Prime Minister Andy Burnham lowers this to £1.5million before the tax is
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