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 ;)
But isn't a large aim of property tax to keep people moving and prevent the situation where you've got retired couples hogging all the family homes because they've got no incentive to downsize?
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 ;)