Scottish Green MSP tables ‘Mansion Tax’ proposals
Proposals for a ‘mansion tax’ on the sale of the million pound homes have been tabled in Parliament by Scottish Green MSP Ross Greer, with the money raised being used to protect public services.
Scottish Greens finance spokesperson Ross Greer has tabled amendments to the Housing Bill which would introduce a new band of Land and Buildings Transaction Tax on the most expensive homes.
Currently, the top rate of Land and Buildings Transaction Tax for residential properties is 12% from £750,000. The Scottish Greens are proposing a further rate from £1 million, which they have suggested be set at 15%.
Mr Greer said:
“A mansion tax on the biggest and most luxurious houses is one of many ways we can raise more money to support services like the NHS and schools while only impacting the very wealthiest people.
“There is more than enough wealth in Scotland to end injustices like child poverty tomorrow, but far too much of it is in the hands of a very small number of extremely rich people and big companies.
“The powers needed to tax them fairly mostly sit at Westminster rather than Holyrood, but we can use tools like Scottish property taxes to make sure the richest people in society pay a bit more when they are buying a new house."
Mr Greer added:
“The Scottish Greens have already delivered an income tax system for Scotland which raises £1.7 billion more every year for public services like our schools and NHS. If we want to protect these services though, we need to go further."
In 2023, the Scottish Greens delivered new powers to double Council Tax on second homes. The party has also doubled the Additional Dwelling Supplement, a tax paid when buying second and holiday homes.
Alongside the Mansion Tax plan, Ross Greer is also tabling proposals to end the tax exemptions currently enjoyed by two types of companies notorious for tax avoidance and property speculation and by foreign militaries buying property in Scotland, to create an additional charge for overseas buyers of Scottish properties and to allow councils to further increase Council Tax on holiday homes.