A Mansion Tax on homes worth more than £2m would affect just 1% of properties – yet 38% of consumers think it is unfair.
The finding, in a new poll by Rightmove, comes as the Lib Dems announced yesterday that they will not have a Mansion Tax policy after all. Labour, however, have committed themselves to it.
The Rightmove poll shows that nearly four in ten people think it would be an unfair tax to impose, despite the fact that just 1% of all properties currently on the market on Rightmove are priced at over £2m.
Of those, nearly three-quarters (72%) are located in London, with one in six (16%) in the south-east outside London.
Just over half of 2,700 respondents (52%) think it would be fair to introduce the tax and the remaining 10% didn’t know.
Rightmove director Miles Shipside said: “In spite of the extra tax burden being likely to affect fewer than 1% of home owners, they have the support of nearly four in ten who would avoid the tax but obviously dislike the principle.
“If the tax is introduced, those sellers who have had their homes valued at over £2m will need to lower their expectations on the deal they’ll be able to get, in the same way Stamp Duty bands affect asking prices.
“It isn’t something that is going to help boost home ownership, and other policies that could be considered are scrapping Stamp Duty for first-time buyers, and far more wide-reaching commitments to build a lot more houses.”