Pickles Warns Against 'Mansion Tax Mistake'

  Autoschediastic 12:48 20 Aug 11
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I'm sorry but anyone that owns a house over a million pounds is not middle class in my eyes, More tax ideas from the goverment..its like the bottomless pit with the tax system...

Story Here

  wiz-king 13:16 20 Aug 11

£1M doesn't buy much on a house in London or its suburbs. That's the problem of quoting figures plucked from the air

  Woolwell 15:37 20 Aug 11

The problem with a mansion tax is that it depends on where you live. House prices vary considerably across the country. Each house would have to be valued, which will cost millions, and then there would be disputes over the valuation, followed by differential tiers in different post codes. It would become a post code lottery.

  OTT_B 15:46 20 Aug 11

The content of Mr Pickles' comments seems to amount to very little. Property value means very little until you get to obscene prices since location accounts for more than anything. If you moved the house I'm in even 10 miles, it would double in value. Move it a further 50 miles south and it would double again, then another 40 miles and it would be over a million pounds to buy. Yet my salary would only go up by maybe 20%.

Property value has never been a good guide to 'wealth' or available income to tax (i.e. income after commitments).

  Forum Editor 16:55 20 Aug 11

"....anyone that owns a house over a million pounds is not middle class in my eyes,"

That may be your opinion, but it's far from being the truth. I could show you a couple of hundred houses within a mile or so of where I live; all of them valued at £1 million or more, and all of them lived in by middle class families. A four bedroomed detached house with nothing particularly luxurious about it that sits a quarter of a mile away was recently sold for £1.2 million. I know the family who lived there, they were about as middle-class as you can get.

Prices for similar properties can vary enormously, according to location.

  bremner 18:05 20 Aug 11

If, and I think it is a very large if, the government were to consider such a tax then it would be fairer if it were to be applied to a percentage above the average house price for an area rather than a single arbitary value.

London's average price is about a third more than the national average.

  morddwyd 20:04 20 Aug 11

Three bedroom flat in Scotland - £1.75m

http://www.thecourier.co.uk/News/Fife/article/16489/location-location-location-st-andrews-flat-with-finest-view-in-golf-on-market-for-over-1-75-million.html

I saw a newsclip of it.

Not much better than the rented place we lived in when we were first married.

  Admiral Allstar 20:29 21 Aug 11

"I'm sorry but anyone that owns a house over a million pounds is not middle class in my eyes"

a very poor post.

i nearly didnt respond to this overly simplistic view.

if you think about your view i think you will see the ludicrosity in it.

a siple example to shoot your idea down:

Someone buys a house for £200k in 2000. House prices rise but their income doesnt. House is valued at £1m in 2011. Why should they pay the mansion tax?? - irrespective of where they live.

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