New Council Tax Bands Announced, High Value Surcharge Introduced from April 2028
# Valuation Office provides details on new Council Tax bands following Budget announcement
The Valuation Office has disclosed new Council Tax bands that will be implemented as part of the government's recent budget measures. Starting in April 2028, a High Value Council Tax Surcharge will be introduced for properties valued at over £2 million, affecting affluent homeowners across the country.
This surcharge was revealed as part of broader fiscal reforms aimed at addressing housing market disparities. The government is taking decisive action to adjust the tax system and ensure those with more valuable properties contribute a fairer share. The details provided by the Valuation Office outline how this will impact existing Council Tax arrangements.
Properties within the new bracket will face increased financial obligations, reflecting both the market value of their estates and the government's intent to generate additional revenue. This change is expected to influence buyer behavior in the high-end property market and could prompt discussions regarding home valuations moving forward.
Areas across the country will be affected by this new tax structure, especially in regions with higher concentrations of luxury homes. The government's initiative is designed not only to raise funds but also to support local councils in delivering essential services.
Further information from the Valuation Office will clarify how existing properties will be reassessed to align with the new bands. Homeowners are advised to stay informed about the forthcoming changes that could affect their taxation and property investments.