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Home truths: options for reforming residential property taxes in England

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  • Cheshire, Paul
  • Hilber, Christian A. L.

Abstract

England’s system of property taxes is in urgent need of reform. Council Tax, devised in a hurry to resolve political difficulties after the demise of the Poll Tax, hits those in low-value homes hardest, and bears at best only a tenuous relationship to today’s house prices. Stamp Duty acts as a tax on moving house, slowing the housing market and making it harder for people to find the right home for them. This report presents the various options to reform the England’s property taxes, assessing them against both economic and political criteria. It concludes by setting out a new approach to taxing English property to mitigate the regressiveness and distortions of the current system, and help achieve government aims of levelling up and delivering net zero.

Suggested Citation

  • Cheshire, Paul & Hilber, Christian A. L., 2021. "Home truths: options for reforming residential property taxes in England," LSE Research Online Documents on Economics 110734, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:110734
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    File URL: http://eprints.lse.ac.uk/110734/
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    Cited by:

    1. Christian A. L. Hilber & Olivier Schoni, 2022. "Housing policy and affordable housing," CEP Occasional Papers 56, Centre for Economic Performance, LSE.
    2. zu Ermgassen, Sophus & Drewniok, Michal & Bull, Joseph & Walker, Christine Corlet & Mancini, Mattia & Ryan-Collins, Josh & Serrenho, André Cabrera, 2022. "A home for all within planetary boundaries: pathways for meeting England’s housing needs without transgressing national climate and biodiversity goals," OSF Preprints 5kxce, Center for Open Science.
    3. zu Ermgassen, Sophus O.S.E. & Drewniok, Michal P. & Bull, Joseph W. & Corlet Walker, Christine M. & Mancini, Mattia & Ryan-Collins, Josh & Cabrera Serrenho, André, 2022. "A home for all within planetary boundaries: Pathways for meeting England's housing needs without transgressing national climate and biodiversity goals," Ecological Economics, Elsevier, vol. 201(C).

    More about this item

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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