Overview

This bill proposes a new system of council tax valuation bands in England, Wales, and Scotland for properties bought or sold after April 1st, 2000. The aim is to create a fairer system of council tax based on updated property values.

Description

The bill mandates the Secretary of State to create new council tax valuation bands using the most recent Land Registry price data for properties purchased after April 1st, 2000. Properties bought before this date will remain in the existing bands. The new bands will be based on property price ranges: (a) below £250,000; (b) £250,001-£500,000; (c) £500,001-£1,000,000; (d) £1,000,001-£2,000,000; (e) £2,000,001-£5,000,000; (f) £5,000,001-£10,000,000; (g) £10,000,001-£20,000,000; and (h) over £20,000,001. Council tax amounts within a billing area will be proportionally distributed across these bands in the ratio 6:8:12:16:24:48:100:250.

Government Spending

The bill doesn't directly specify changes to government spending. The impact on government revenue depends on the final council tax rates set by local authorities based on the new valuation bands. It's possible that some local authorities might see increases or decreases in their overall council tax revenue depending on the distribution of properties across the new bands.

Groups Affected

• Homeowners: Those who bought their homes after April 1st, 2000, will likely see their council tax change based on the new valuation bands. The impact could be an increase or decrease depending on their property value and the new tax rates.
• Local Authorities: The bill directly affects local authorities' council tax income, potentially altering their budgets and the services they can provide.
• Council Tax payers: All those paying council tax are affected, although the specific impact varies depending on the location and value of their property.

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