Overview
- The surcharge will apply to English homes valued at £2 million or more from April 2028, charging £2,500 to £7,500 a year across four bands tied to property value.
- The Valuation Office Agency will conduct a standalone, targeted valuation in 2026 unrelated to 1991 council tax bands, and it says professional valuers, inspections and an appeals route will be available.
- Property bodies warn desktop and automated methods could overstate values by up to about £30,000, risking mass appeals and pulling more households into the charge.
- Analyses cite capacity strains with only around 8,000 residential valuers versus up to roughly 190,000 properties that could be in scope by 2028, raising concerns about backlogs and timing.
- The Treasury plans a targeted support scheme and will consult on reliefs and exemptions in early 2026, as examples show deferred bills could compound into large sums over time.