Rates-like levy seen as un­pop­u­lar

Yorkshire Post - Property - - PROPERTY -

A PRO­POSAL that the Govern­ment should look to raise more money from prop­erty taxes has met with op­po­si­tion from the hous­ing in­dus­try.

The idea has come in a pol­icy doc­u­ment pub­lished by the Or­gan­i­sa­tion for Eco­nomic Co­op­er­a­tion and Devel­op­ment.

It sug­gests that more prop­erty taxes make sense, rather than try­ing to raise ex­ist­ing taxes on com­pa­nies and in­di­vid­u­als.

It also says that prop­erty taxes could limit fu­ture hous­ing mar­ket bub­bles.

Other coun­tries do im­pose such taxes, usu­ally yearly levies on the value of each home.

Crit­ics ar­gue that ad­di­tional levies will force an al­ready slow mar­ket into a stand­still and would anger vot­ers.

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