To ask what you think of a mansion tax?

[Liketochat1]

Nick Clegg has raised the issue of taxing people on their assets again. Is this fair? Should you have to pay more tax if you have a valuable house, art or other property?

No. politics of envy. plenty about on mumsnet though, usually try to ignore this kind of stuff as it gets me so cross!

A 'Mansion Tax' discriminates unfairly against those living in London and the South East where the highest proportion of these properties are based. Also, someone might have a large mortgage, and be less wealthy than someone living in a lower value property with no mortgage.

My brother's terraced house has three small bedrooms and is worth X. My house has six bedrooms big garden and is worth the same. The difference is I live in rural Scotland and he lives in an OK neighbourhood in London Zone 3. Whatever amount gets set as the threshold for Asset Tax it will fall unfairly heavily on people in London and the South East.

It's really a totally crap idea to work in practice. Who actually knows the value of an asset they own until it's sold? Will HMRC be paying for the country to have all these valuations done? Will everyone have to pay to for valuations or just the people who may fall into the expensive house category. Working out income is easy. Working out asset prices is much harder.

Not that that will matter to the Lib Dems who have a history of no regard for the workability of their suggested policies. Bash the rich does play well, though.

Dreamingofsun, I live in a three bedroom house, and get the 25% discount as I don't have a partner.

My teenage children (1 of each gender) have the other two bedrooms.

Why should I pay the same amount in council tax as the people next door, five adults (parents, their middle child and their youngest who has moved his girlfriend in)?

What is wasteful about the way I live?

I produce about a quarter of the rubbish they produce, and have one car as opposed to their four.

jeezy - i had in mind people like 2 of my neighbours who each live in a 4 bed houses by themselves. if they want to do that fine, but i don't think they should benefit by getting a rebate. with such a high pressure on property it just seems illogical