Why do we tax property?

Tenements

Allan Faulds

The Scottish Green Party have today launched proposals on taxation including a replacement for council tax. Described as a “Residential Property Tax” (RPT), individual councils would set the tax rate as a % of property values less a £10000 tax free allowance, with a recommended rate of 1%. Labour are proposing a property tax with a flat starting point of £450 added to 0.35% of the value of a property under £180,000 and 0.9% for the value above that threshold, whilst the SNP intend on retaining Council Tax with some tweaks, meaning most parties are going into this election arguing for property taxes at local level. Continue reading

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