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If you own your home, you only pay tax ("stamp duty") when you sell it - there isn't a land value tax or similar. There's also a local council tax based on prop
by vertex-four 7y ago
If you own your home, you only pay tax ("stamp duty") when you sell it - there isn't a land value tax or similar. There's also a local council tax based on property value, but that has a cap.
- isostatic 7y agoNot even that -- you pay tax when you buy the home. Buy a house for £300k with a 270k mortgage, pay £5k stamp. Crossrail increases it to £600k. Sell the house, repay mortgage, buy new house elsewhere for £300k, pay £5k stamp, and you've suddenly changed your £35k into £325k.