Having read a little bit more about the proposals my main concerned is how we'll afford it as a country, as I'm not sure it's going to bring more money in overall.
No one is going to suddenly get a council tax bill of £10k for their house, that's not how the proposal works. For people living in existing houses the maximum increase in yearly cost will be £1,200 pounds, but for the vast majority, the yearly cost will go down or remain about the same. If someone can't afford the increase it can be deferred until the house is sold.
When someone moves house, then the £1,200 increase limit doesn't exist, but firstly they know this in advance when they choose to move, secondly it's cushioned by the removal of stamp duty. Even then, it's not that bad - tske a £1m property in London. If someone moved in after this policy started, they'd avoid stamp duty of £43k, and council tax of say £2k a year and instead would pay £4,800 a year. They'd be better off with the new system for first 18 years of living in that property!
If the property was £750k and council tax of £2k a year, stamp duty would be £27,500 but they'd pay £3,600 a year - better off for 17 years.
By the time it's a house of £500k, people would be better off for over 37 years!
The only people who will be substantially worse off are people moving into multi million pound mansions.
For most of us the effect will be the equivalent of council tax remaining the same or a bit less, but with a new freedom to move house or job without being massively penalised for it.
I'm just now sure how any of this will raise money though, which is why I'm sceptical.