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I think empty land/property needs taxed more severely as it contributes to the housing crisis.
Agreed. Far too many people sit on property of many sorts watching it appreciate while doing nothing.
calculating the true value of a lived in property is hard
The Valuation Office Agency have a process for it, complete with appeals etc.
My parents live in a lower income part of NL selling their house won't get them anything in Amsterdam. Must be similar for north of England Vs London.
I'm quite happy for people in London with bonkers expensive houses to pay more tax than people in not-London.
jellybaby-
I'm quite happy for people in London with bonkers expensive houses to pay more tax than people in not-London.
Sure but what about people whose houses seem bonkers expensive by national standards but are probably just normal family sized houses? How much more should they pay - is the same % as that paid by those with houses outside London already progressive enough, or do you think it should be more than that?
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In a way the whole £ appreciation game is strange. We bought cos we wanted a bit bigger / we can control what we install (time for solar panels etc when we have £) / it's the same price as renting.
But also because rent can go up year on year if you are unlucky (our LL is actually cool and doesn't do that) & how the heck are you going to pay for housing in your old age / care home costs as you can't even insure yourself.
But it comes with upkeep etc as well. So a property tax with no smaller properties people can afford to downsize into will have some unintended consequences too.
I'd imagine those with bonkers big houses can always let out a room to afford the taxes ;)
andyfallsoff
JWestland
Billions pissed away on dodgy COVID contracts, nepotism & corruption all over.
Sure I accept there is always some of that in any organisation. Mistakes are made etc. But I think government corruption controls really need tightening.
We can give away pens at work during graduation fairs while they sell off things on the cheap to mates. Then there's RHI where meeting minutes were lost / not taken.
I think empty land/property needs taxed more severely as it contributes to the housing crisis.
Near me there's two plots which would hold 8 houses / 16 apartments but nobody is selling. One has been empty for 20 years.
There's another plot that could hold 60 houses.
Also not everyone has a house like London that gained tons of value and so calculating the true value of a lived in property is hard.
My parents live in a lower income part of NL selling their house won't get them anything in Amsterdam. Must be similar for north of England Vs London.
But wealth, property and land and tiny banking transaction fees must happen I think.
EDIT to clarify: The wealth of a property in London is super high if you look at the increase, but if you have to move to another place in London you haven't gained much. So the easiest thing is to just have x% of the house value as a tax, but that won't address that in some parts the house values jumped massively. But perhaps there's nothing you can do about that with a property tax.