Homes hit by 'mansion tax' set to DOUBLE as Burnham and Healey weigh cutting threshold to £1.5m

From the Newshound archive · first published 22 September 2026.

Labour MPs are in open revolt, with one London MP warning the move would be a 'catastrophic electoral own goal' that punishes ordinary families rather than the super-rich. Property experts warn the widened tax could also depress sales and reduce the revenue it is meant to raise.

The charge — officially the High Value Council Tax Surcharge — begins at £2,500 a year, reaching £7,500 at the top end for the highest-value properties, and takes effect from April 2028.

London boroughs including Hackney and Wandsworth could see the number of homeowners caught by the tax nearly triple if the threshold is lowered.

Shadow Chancellor Andrew Griffith branded it 'a tax on family homes' and demanded Healey rule out all further tax rises in next month's Budget.