“After weeks of speculation and an extraordinary start to Budget day, we finally have clarity on property taxation. The headline measure for our sector is the new High Value Council Tax Surcharge on properties worth £2m or more.
“From a surveying perspective, this raises immediate practical questions. The government has confirmed this charge will be based on updated valuations, but with council tax bands frozen since 1991, there is no current register of property values for homes in this bracket. Someone will need to assess these properties, and the methodology matters.
“A difference of £100,000 either side of the threshold could mean paying £2,500 annually or nothing at all. Homeowners close to £2m will inevitably seek professional valuations to confirm their position, and we expect to see increased demand for RICS valuations as 2028 approaches.
“The wider council tax revaluation for bands F, G and H that some had predicted did not materialise. But for the top end of the market, the valuation questions are just beginning.”
