Government confirms property tax review will take place before next election

December 3, 2014 The MyHome Newsdesk by The MyHome Newsdesk
Government confirms property tax review will take place before next election

The Government has confirmed a review of the property tax will take place before the next election.

A spokesman said the Government wanted to make sure the tax "remains affordable" by delaying a possible increase in the tax in two years time.

The tax is linked to the value of a property.

Based on current rates, some houses could be worth around 70% more in 2016 than they were when the tax first kicked in - meaning the tax would be 70% higher too.

The review would aim to keep the cost from escalating further.

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A spokesman said the Government was "acutely aware" of how rising property prices would mean a huge hike in the tax that most people would pay.

And it says the tax will be reviewed - so that it remains "affordable" for households.

The news comes a full two years before the increase would have kicked in - and it's likely to lead to further speculation that an election isn't far away.

Tags:
Uncategorized election General Election government Local Property Tax property

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