Overview
- Labour’s surcharge on properties valued above £2 million is due from 2028, with four bands charging from £2,500 up to £7,500 a year.
- The Valuation Office Agency says it will run a separate, targeted valuation in 2026, independent of 1991 council tax bands, with revaluations every five years.
- Assessments will lean on sales data, aerial mapping and planning records, with appeals allowed and inspections possible where needed.
- Industry figures caution desktop models could overstate values by around £30,000, risking capacity strains for roughly 8,000 residential valuers and a wave of disputes.
- The government plans consultations in early 2026 on reliefs, exemptions and a support scheme, with social housing exempt and councils to be funded for added administration; analysts say deferral could leave estates with large accumulated bills.