Labour Mansion Tax to Hit 100000

Labour Mansion Tax to Hit 100000.

Labours future plans for mansion tax would affect more than 100,000 home owners and could see the average monthly cost amount to about £1,000 per month. For the tax to reach labour’s target of £1.2bn per year, the party would need to raise £11,000 per home.

Zoopla a property valuation website reported that 88% of homes that would be caught by this tax are in London. Ed Milliband’s home in north London is thought to also be affected.

It is thought that this tax is meant to be a simple way of raising cash from the nations wealthy as it predicted to be “almost impossible to avoid”.

This may send out a message to the wealthy and allow people to feel equal. With some property prices rising in the capital, it may be that some would not be affected by the tax, but some may be in the future if the trend continues.