How Will Labour's "mansion" Tax Work?

[ToraToraTora]

Will we have civil servants knocking on doors of "mansions" demanding money with menaces? Is it an annual thing or a one off? How will they determine the value of a house? Will border line owners deliberately devalue their own houses? I think we need to know.

[ToraToraTora]

bang on judge, they's spend a fortune on town hall busy bodies going round bashing anyone deemed to have a "mansion". That will no doubt cost much more than they collect, but that's all right because those prosperous bar stewards deserve it! London there will be many pensioners living hand to mouth in these £2m mansions that they bought in 1948 for a few hundred, but no they must also suffer on the anvil of Noo Labour's crack down on prosperity.

I'd be interested in what my old mate mikey makes of this.

[youngmafbog]

A tax of envy, so why bother with the details?

Will Mr Blair be coughing up ?

It is not a mansion tax at all. There will be mansions around the country that wont pay a bean and relatively 'normal' houses that have to cough up - simply due to location.

It is a totally ridiculous tax with only one aim: To punish the percieved rich.

What labout have failed to realize is that there will be little old ladies turfed out on the street. There are many in London who are not cash rich. I'm sure the Worlds press will jump on that when it happens as this proposal taks no account of ability to pay.

[New Judge]

Quite so, youngmaf. But then the Labour Luvvies will suggest that these little old ladies "downsize" from the home they have spent the majority of their lives in, probably raising their children and scrimping to make ends meet when the mortgage rate hit double figures. The properties can then be sold to developers who will convert them into six one-roomed boxes in which the "poor" can take up residence (and thus, incidentally, removing the property from the clutches of the tax).

[Gromit]

// there will be little old ladies turfed out on the street. ...this proposal taks no account of ability to pay. //

Pmsl

[youngmafbog]

Really Gromit, you think people having to sell their house is funny do you?

[naomi24]

Gromit, what's funny? There are plenty of houses in what were not so long ago the poorer areas of London that are now worth £2m plus. I've no doubt some of the original residents still occupy their homes.

[buildersmate]

Balls has thought of that one, so no old ladies out on street.
Tax accrues until aforementioned old lady moves out or dies.
Charge placed on the land title to enable this, methinks? - a bit like when funding for care home is demanded but house cannot be sold to pay for it?

[youngmafbog]

What a lovely caring man Balls is.

Presumably to get to this stage though it will have to go through Court with the little old lady as a debtor.

[ToraToraTora]

funny how gromit and his Islington coffee shop buddies were screaming like banshees when the government anounced that benefit scroungers woiuld not be funded for spare rooms and yet they are quite happy for life long residents to be persecuted for living in what has become over time, what his mates have deemed a "mansion". Good old socialism, you can't beat it can you?

[buildersmate]

Don't know for sure how local authorities do this ( for care home costs) but suspect they write to Land Registry to place charge. It may involve owner having to give consent.
I saw Balls interviewed on this aspect and a deferment of charge was his answer for asset rich, cash poor people.

[youngmafbog]

But only if you earn less than 42K

That is not that much if you live in London.

[chaptazbru2]

The tories brought in the hate bedroom tax, so I hope and pray if Labour do get in, they bring in the mansion tax !

[ToraToraTora]

what is this "bedroom tax" - I have bedrooms who do I pay?

[ichkeria]

Let's just hope we get a chance to find out, eh :-)

[chaptazbru2]

Hope so ichkeria !