The majority of MPs would prefer a council tax revaluation to a mansion tax, according to a poll carried out by the British Property Federation (BPF) and research organisation ComRes.

Mansion tax

Seven out of 10 respondents to the survey said additional higher rate council tax bands would be a better way to reform annual property taxes on high-value dwellings than introducing a mansion tax.

The survey found that two fifths of Labour MPs favoured additional council tax bands over a mansion tax despite the party championing the tax as one of its flagship policies ahead of May’s general election.

The poll surveyed 150 current MPs and 100 possible future MPs, including 50 prospective parliamentary candidates.

Support for a council tax revaluation was found to be strongest among Labour MPs at 87%, compared to 64% of Conservative MPs.

More than half of the MPs surveyed who wanted council tax reform thought it should be carried out as soon as possible during the next parliament.

The BPF has long made the case for council tax reform, arguing that the 24-year-old tax has not changed despite huge changes in house prices, and has been urging the government to consider a council tax revaluation since the idea of a mansion tax was first mooted.

“A mansion tax is political gimmick, which is more about the narrative of rich versus the rest, rather than about doing what is best,” said Ian Fletcher, BPF director of policy.

“Reforming council tax through a revaluation and raising revenue through adding more council tax bands would restore fairness to property taxation and be better for the country.”