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Sure but what about people whose houses seem bonkers expensive by national standards but are probably just normal family sized houses?
This. Just a normal family home, same as my wider family. I just happen to live in London and they live in North Kent. Whats the reason I should pay more? Their houses are bigger than mine!
Haino-
Whats the reason I should pay more?
On average you get paid more, even the minimum wage is higher to reflect higher costs, although I know in practice there's also massive inequality and poverty. Maybe the same percentage of tax on a property would lead to a leveling of house prices.
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This. Just a normal family home, same as my wider family. I just happen to live in London and they live in North Kent. Whats the reason I should pay more? Their houses are bigger than mine!
If living in London isn't awesome enough for you to want to pay the tax then move to North Kent. Fewer people wanting to live in London in theory means house prices drop in London and the tax with it.
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It's about value, not size. You buy a house, the value massively increases and you pay next to no tax on your massive gain. We are just about to levy a tax on every single worker including those on minimum wage but housing is left alone for political reasons. It would also be far better to tax people who are holding property as opposed to penalising them when selling/moving with SDLT, which means old grannies have no choice but to stay put in 5 bed mansions until they die
(Obviously I am biased as a 30 yo professional who can't afford a mouldy 1 bed, let alone somewhere I'd actually want to raise a child or whatever)
(Would also start with second homes and landlords and leave homeowners alone for now though)
snottyotter
jellybaby
frankenbike
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?