Property tax on empty / vacant property.

khards

Hi,

After looking at the budget reports I cannot see any exemptions for vacant or empty properties.
Looking on daft I can see that there are some empties that have been on the market since 2006 (usually at inflated asking prices).
Will the owners of there properties be forced to pay tax or put them onto the market at a more realistic price?

ResearchWill

khards wrote: »

Hi,

After looking at the budget reports I cannot see any exemptions for vacant or empty properties.
Looking on daft I can see that there are some empties that have been on the market since 2006 (usually at inflated asking prices).
Will the owners of there properties be forced to pay tax or put them onto the market at a more realistic price?

The Budget only sets out in general the proposal, an Act will be required to implement the tax, untill that happens cant tell what the exceptions will be. The Household charge Act will give you an idea of possible exceptions.

An example from that Act


(2) For the purposes of this Act, none of the following is a residential property:

(a) a building—

(i) from which no income has been derived since the building’s construction,

(ii) that, since the building’s construction, has never been used as a dwelling, and

khards

I thought it was unlike the government to disincentive multiple property owners.

I will just have to wait and see. In fairness since it is a tax on property owners then the empties should be taxed. If the owners do not like it then they will sell, thus making the property market more efficient.
I hate to see once beautiful houses that have fallen into a state of dis-repair because the owners have not maintained them or been incentivised to sell them to someone who could make better use of them.

StillWaters

The only exemption for an empty house for both the household charge and NPPR that has previously been occupied is if it is uninhabitable, and the rules on that are very strict. I'd imagine the property tax will be much the same.