As a long-term US resident in the UK, I’m troubled by the lack of an annual property tax. Could a progressive tax system curb housing speculation and improve stability?
Interesting thread! I wonder if a progressive property tax could address market spikes better. The UK’s reliance on council tax and Stamp Duty leaves some questions open. How might such a model work in practice with the UK’s unique housing market?
i think the uk avoids a standard property tax coz of historical quirks and older local govt structures. a land value tax might be fairer, though its implementaion could be tricky given the complex political landscape.