The impact of a proportional property tax in London
Article
Moving from our current system of council tax and stamp duty to a proportional property tax would help to address this, ensuring that our existing housing stock was shared more fairly, freeing up underoccupied housing stock for others to use, and helping to rebalance house prices across the country.
In the parts of the country where house prices are lower, this would cut property tax bills for the majority. In the parts of the country where house prices are higher – in particular London – this would help to tackle the crisis of affordability and make homeownership more accessible. But implementing a proportional property tax in London also has some particular challenges.
In this briefing, we look in detail at the specific issue of the impact of a proportional property tax on asset-rich, cash-poor households in London, using the recent Fairer Share proposals for the implementation of a proportional property tax as a case study.
Related items
The IPPR Inclusion Taskforce
Our new inclusion taskforce will focus on reforming England's failing special educational needs and disabilities (SEND) system.Places to come together: Rebuilding local solidarities against the far right
A discussion paper on the fight for local investment and why government must create, facilitate and maintain spaces where solidarity might thrive.State of the North 2025 - The kids aren't alright: How to deliver for young people in the North
This year’s State of the North report highlights how regional inequality exacerbates the growing challenges facing many young northerners.