England to Double Council Tax on Second Homes

Starting in April, most local councils in England will impose a 100% council tax surcharge on second homes, impacting over 500,000 properties and generating more than £1 billion annually. This measure, authorized by the Levelling-up and Regeneration Act, aims to alleviate pressure on local housing markets in tourist areas and provide much-needed funds for public services like social care. The average tax bill for second homes will rise from £2,280 to £4,560, with some properties facing bills as high as £10,000. While this move could lead to a sell-off of second homes, particularly in coastal regions, it is criticized as unfairly targeting high earners and those relying on rental income. Cornwall, Dorset, and North Yorkshire are expected to see significant revenue increases from this change. The new tax rates are part of broader cost-of-living increases, including hikes in general council tax and utility bills.