What are the property taxes in Britain?

There is no "property tax" in Britain, but the property tax and commercial housing tax are levied, which is similar to what we call property tax.

According to the British "New Home Network" report, in the latest budget published by British Chancellor of the Exchequer Osborne, the latest policy of helping residents buy real estate through interest-free loans or mortgage guarantees has brought more benefits to many China people who are preparing to buy houses for the first time and again.

In the three-year "housing assistance plan" proposed in the new budget, the British government began to allocate 3.5 billion pounds to provide buyers with loans of 20% of the property value, with a down payment of 5% to 20%.

Extended data

British property tax related knowledge

1, tax rate

There are three types of real estate tax rates in the world: proportional tax rate, progressive tax rate and fixed tax rate. The British real estate tax rate adopts progressive tax rate, but the tax bands and marginal tax rates of counties are different. Take England as an example, the real estate tax level in England is divided into eight levels, which are represented by English letters A to H, with D as the reference level. The annual real estate tax only stipulates the tax value of D, and other tax values are naturally generated.

2. Tax basis

The tax base of British housing tax is the value of residential property, which is assessed by real estate assessment Department under the domestic tax department and generally revalued 1 time every five years. After the assessment, the British government divided the houses into eight grades A-H according to the market value of the houses, among which Grade D is the benchmark tax grade, and the tax of other grades is a certain proportion or multiple of Grade D respectively.

According to this tax structure, local governments in Britain can calculate the tax payable of A-class to H-class houses by determining the tax payable of D-class houses and multiplying it by the tax multiplier. The tax amount of property taxes at all levels will be adjusted every year. Judging from the situation, the tax amount of residential tax is increasing year by year.

Baidu encyclopedia-British real estate