Government confirms property tax review will take place before next election

Government confirms property tax review will take place before next election

The Government has confirmed a review of the property tax will take place before the next election.

A spokesman said the Government wanted to make sure the tax “remains affordable” by delaying a possible increase in the tax in two years time.

The tax is linked to the value of a property.

Based on current rates, some houses could be worth around 70% more in 2016 than they were when the tax first kicked in – meaning the tax would be 70% higher too.

The review would aim to keep the cost from escalating further.

A spokesman said the Government was “acutely aware” of how rising property prices would mean a huge hike in the tax that most people would pay.

And it says the tax will be reviewed – so that it remains “affordable” for households.

The news comes a full two years before the increase would have kicked in – and it’s likely to lead to further speculation that an election isn’t far away.

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