High-Value Property Tax Surcharge May Rise Beyond 2028 Rates
UKPulse Property Desk
The High Value Council Tax Surcharge, introduced in last autumn's Budget, could increase beyond its initial 2028 rates, according to Knight Frank.
- The High Value Council Tax Surcharge was announced in last autumn's Budget.
- The annual surcharge applies to properties valued at £2 million or more.
- The current surcharge ranges from £2,500 to £7,400.
The High Value Council Tax Surcharge may see increases beyond its initial 2028 rates, as suggested by Knight Frank. The government is reportedly seeking to fund spending commitments, which could lead to such a rise.
This annual surcharge, announced in last autumn's Budget, applies to properties valued at £2 million or more. The current rates for this surcharge range from £2,500 to £7,400.