Anyone who lives in a home valued at £2m or more in England will face a council tax surcharge from April 2028.
There will be four price bands with the surcharge rising from £2,500 for a property valued in the £2m to £2.5m band, to £7,500 for a property valued in the highest band of £5m or more
While known as a mansion tax, it may also capture homes in expensive areas, and will be levied on about 100,000 properties, primarily in London and south east England.
The move will require the valuation of homes in the top council tax bands – F, G and H – for the first time since 1991.
You can check your council tax band here if you are in England and Wales, external, Scotland, external, and Northern Ireland, external.
