A tax levied on expensive residential properties of a value in excess of a particular sum.
the mayoral candidates were asked about their views on a possible mansion tax for rich homeowners
Example sentencesExamples
His insistence that a mansion tax was still on the cards will surprise many of his party's MPs and supporters, who have grown pessimistic about it becoming government policy.
Not sure I'd want to pay a mansion tax on it.
Cable, who once proposed a mansion tax, called for "fair taxes" and redistribution of wealth recently.
On picking up the paper yesterday morning you quite probably encountered some discussions about the proposed 'mansion tax'.
The launch of the mansion tax was a fiasco, and it may prove electorally disastrous in wealthy seats, but in theory it has merit.
Mansion tax is not Land Value Tax, but it is a place to start down the road to shifting a significant part of the tax base from income to wealth.
They believe that scrapping or reducing the rate could increase tax revenue, meaning there would be no need for the money a "mansion tax" would raise.
What happens if local councils wanted to impose, say, a mansion tax on the most expensive properties in their area?
So let's not pretend the mansion tax is a viable proposition: it's not.
The most obvious point is that a Mansion Tax is a tax that would not take any account of an individual’s ability to pay.
On the mansion tax: He says the "wealthy must pay their share".
Opponents of a mansion tax complain that it would penalise the equity-rich but income-poor and force some pensioners to sell their family homes.
I've been raging all morning about the proposed mansion tax.
One of the aims of a Mansion Tax is to collect a share of the untaxed wealth the rich currently enjoy.
But one thing that wasn't in the Budget was a full-blown mansion tax of the sort he has been calling for.
There's a huge amount of confusion surrounding the proposals for a 'mansion tax' and, more generally, taxation at the top end of the housing market.
The upcoming UK budget (21 March) may see the controversial 50 per cent tax on top earners being replaced with a mansion tax on real estate worth more than £2 million (around $3.2 million).
A land tax, a mansion tax and a leafy suburb tax on those living in more affluent areas have all been mooted.
He cited the party's backing for a "mansion tax" on properties worth more than £2 million ($3.8 million) - a move he said could raise £2 billion a year.
Definition of mansion tax in US English:
mansion tax
noun
informal
A tax levied on expensive residential properties of a value in excess of a particular sum.
the mayoral candidates were asked about their views on a possible mansion tax for rich homeowners
Example sentencesExamples
On picking up the paper yesterday morning you quite probably encountered some discussions about the proposed 'mansion tax'.
What happens if local councils wanted to impose, say, a mansion tax on the most expensive properties in their area?
Not sure I'd want to pay a mansion tax on it.
His insistence that a mansion tax was still on the cards will surprise many of his party's MPs and supporters, who have grown pessimistic about it becoming government policy.
He cited the party's backing for a "mansion tax" on properties worth more than £2 million ($3.8 million) - a move he said could raise £2 billion a year.
Opponents of a mansion tax complain that it would penalise the equity-rich but income-poor and force some pensioners to sell their family homes.
A land tax, a mansion tax and a leafy suburb tax on those living in more affluent areas have all been mooted.
There's a huge amount of confusion surrounding the proposals for a 'mansion tax' and, more generally, taxation at the top end of the housing market.
The upcoming UK budget (21 March) may see the controversial 50 per cent tax on top earners being replaced with a mansion tax on real estate worth more than £2 million (around $3.2 million).
But one thing that wasn't in the Budget was a full-blown mansion tax of the sort he has been calling for.
On the mansion tax: He says the "wealthy must pay their share".
They believe that scrapping or reducing the rate could increase tax revenue, meaning there would be no need for the money a "mansion tax" would raise.
The most obvious point is that a Mansion Tax is a tax that would not take any account of an individual’s ability to pay.
Mansion tax is not Land Value Tax, but it is a place to start down the road to shifting a significant part of the tax base from income to wealth.
The launch of the mansion tax was a fiasco, and it may prove electorally disastrous in wealthy seats, but in theory it has merit.
So let's not pretend the mansion tax is a viable proposition: it's not.
One of the aims of a Mansion Tax is to collect a share of the untaxed wealth the rich currently enjoy.
I've been raging all morning about the proposed mansion tax.
Cable, who once proposed a mansion tax, called for "fair taxes" and redistribution of wealth recently.