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  • Government confirms property tax review will take place before next election
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Dec 3, 2014 - 09:08

Government confirms property tax review will take place before next election

The MyHome Newsdesk
By The MyHome Newsdesk
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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.

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  • Tags
  • election
  • General Election
  • government
  • Local Property Tax
  • property
  • property tax
The MyHome Newsdesk
By The MyHome Newsdesk
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