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Scottish Government Propose 'Mansion Tax' - and It Could Raise up to £16m
The consultation estimates the new bands would raise £12 million to £16 million a year and affect fewer than 1% of Scottish homes.
- On Monday, the Scottish Government launched a public consultation on introducing two new council tax bands for homes valued at more than £1 million, with indicative rates set for the new bands.
- Deputy First Minister and Cabinet Secretary for Finance Jenny Gilruth said the approach was "based on fairness," noting that multi-million-pound properties currently have council tax bills "not materially different" from modest homes.
- Scottish Assessors will conduct a "targeted revaluation" of properties worth more than £1 million, with the government estimating the changes affect 15,000 homes—roughly 1% of Scotland's housing stock—and could raise up to £16 million annually.
- However, Scottish Conservative finance spokesman Craig Hoy described the plans as "performative," warning the tax could damage the housing market and unfairly hit "asset-rich, cash-poor individuals."
- The consultation is scheduled to close on August 24, 2026, with the government aiming to implement the new bands by April 2028 following the outcome of public feedback.
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Total News Sources15
Leaning Left4Leaning Right1Center2Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
C 29%
14%
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