To think an annual property tax is incredibly unfair?

Yes and the explanation is right there Too many small landlords trying to get both capital growth and income from the same property. There’s no profit involved in social housing.

It’s not just security, it’s cheaper.

Social housing is significantly cheaper than private renting . According to national data, social rents are, on average, 50% to 64% cheaper than private rentals, which can save tenants hundreds of pounds per month . In areas with high housing costs like London, this difference can amount to over £1,400 per month in savings .

Security.

Its a no brainer, especially if you have a family. Until very recently you could be a good, reliable tenant for a decade and be given a month’s notice on a whim because the agents reckon they can get more rent by remarketing.

Its the curse of hobby landlording that became common place with the demise of social housing. Too many small landlords trying to get both capital growth and income from the same property. Good professional landlords struggle to compete.

Most of Europe has more stable rental markets by having distinct frameworks for long term, mid term and short term letting with clear responsibilities on each side for each type of rental. You can take out a rental on a long term tenancy knowing you won’t have to find a new school for the DC at a month’s notice or bear the costs of moving on an annual basis.

Social housing is the only form of housing we have which approaches European long term tenancies.

Yes because the rents cover the actual cost, there’s no profit.

Then why does everyone want one rather than a private rental, the rents are cheaper?

Yes rewarding the people who have no business to be here and have not paid in

"It can be acknowledged by the ignorant for eternity. It still isn’t true."

Chat GPT

Yes, there is also the Housing Revenue Account (HRA), which is an important part of how council housing is funded.
The HRA is a ring-fenced account that councils with their own housing stock must keep separate from their general finances. It is primarily funded by:

• Council-house rents.
• Service charges paid by tenants and leaseholders.
• Income from garages, parking, and other housing-related assets.
• Right to Buy receipts (subject to rules on how they can be spent).
• Borrowing for housing investment (within the HRA).

• Repairs and maintenance.
• Housing management.
• Major improvements (such as new kitchens, roofs, and insulation).
• Building new council homes.
• Repaying housing debt and interest.

• Central government grants for affordable housing.
• Funding for regeneration projects.
• Housing Benefit or the housing element of Universal Credit paid to eligible tenants.
• Occasionally, specific government programmes to improve housing quality or energy efficiency.

It is a home you live in it. Any price increase is on paper its not wealth that can be used by the person until they sell so tax it then upon sale...oh wait we already have that.

Property your only gouse shouldnt be seen as an asset whilst you are living in it, we all need a house ot simply put a roof over our heads.

My house price has doubled since I bought it but it's my forever home so what good is that equity when I cannot use it unless I sell up and move which isn't going to happen until I need care or die. But sure tax me cos apparently im wealthy.

It can be acknowledged by the ignorant for eternity. It still isn’t true.

The Housing Revenue Account (HRA) is a ring-fenced accounting mechanism within the General Fund. The ring-fence ensures that the income from tenants’ rents is only spent on the upkeep and management of local authority tenants’ homes and protects them from funding services already paid for through Council Tax. The HRA can also contribute toward the building of new council housing. Councils are responsible for meeting their statutory responsibilities as a landlord within their HRA.

https://questions-statements.parliament.uk/written-questions/detail/2024-10-21/10194/

This is so true. I’ve never seen anything that looks so like the thin end of a wedge.

No, if she's living there already, the maximum increase compared with her current tax will be £1200 a year.

£100 a month? A million pound property would be 5k per year, so more like £400+ a month.

I assume all this tax raised locally based on the notional value of homes will be pit in a central pot and distributed? Otherwise London would be flush and many other areas would come up short.

Quite the opposite of devolution I would think.

We pay nearly 4k council tax for a 3 bed in home counties. Previously lived outer London and was under 2k for same size property. I think as others have said its partly enconomies of scale - we live semi rural so take much longer to collect rubbish etc, there are many nore pensioners requiring social care.

Then it's her choice to leave, she's not being made homeless. She's making herself homeless voluntarily. Bear in mind, we wouldn't be talking about a family in the breadline here but someone living in a million+ house who leaves either because she cant afford or isn't isn't prepared to defer £100 a month.

Did you put that in the Fairer Share website or just do the calc yourself,?

And it'll start off at 0.48% but as we all know they will use every opportunity to increase it...they can never have enough of our money. Its always tax tax tax

Most people working in tax policy call it stamp duty because 95% of people know what you mean when you say ‘stamp duty’ and less than 50% know what you mean when you talk about LBTT. Simple communication is way more important than official terminology!

They want the boomers houses to give to the migrants. The bigger ones to convert to HMO's, the smaller ones for families.

A land tax. The Govt adds an annual charge to your property. At what point do they force you to sell? When they have 30 percent, 50 percent?

One year your house value will be £500k next yr its £575k year 3 its £600k. You are living in that house you aren't realising any of these gains yet your tax will go up accordingly. Is that fair? Why are paying more in te 2 or 3 just because its gone up on paper.

Houses are your homes not an investment, not some asset.

Reform council tax remove social care as this is majoirty of costs for the majoirty of councils and fund that nationally through increase in income tax so everyone pays into it. Then council services will be what they should be fire, police, bin collection, libraries, education etc.

Posters here being happy rhey will pay less buly lvt well what services will you get if councils get less money? How is the gocernment going to make councils get the right amount. Pretty much all councils right now are all struggling for funds. I dont see how lvt which will help

Various funding methods including government grants - tax payers money.

You've made a whole thread about this but haven't read the policy.

The poor widow won't be made homeless because if she can't afford the tax then it'll be collected when her house is eventually sold. At present the policy will stop people from losing their homes because of unpaid tax, not increase it.

But you'd know about this, and the cap on any increase for existing homeowners if you'd done your homework.