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What will Labour’s mansion tax mean for prime property values?

Labour have now confirmed that their version of the mansion tax would be based around price bands, with homes valued at between £2m and £3m having to pay a flat rate charge of £3,000 per year. In theory, that should have a minimal impact on the prices of such homes. But above £3m, a new mansion tax could generate larger falls of between 6% and 16%.

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