, Lewes in East Sussex (£4,776) and Dorset (£4,776). Lord Leigh's suggestion that properties in the top band should be revalued stems from the fact that council tax bandings are still based on the value of properties in 1991. As a result, levies do not always reflect the way houses in some areas and some types of property have surged in value since then, especially in the south-east. A property must have been worth £320,001 or more in 1991 to qualify for Band H tax. Example rates provided by Lambeth Council show a house in the borough would have to be worth £3.5m to qualify for the highest rate of council tax. However, disparities across the country mean that Band H can now contain homes worth up to the £250m sought for The Holme, in Regents Park, which is thought to be the UK's most expensive home.){kind=link}
Lord Leigh calls for new council tax bands for mansions and penthouses
A Conservative peer and party treasurer has suggested the Government should raise taxes on the 200,000 most expensive homes in England.
Lord Leigh, a senior party treasurer, said mansions, penthouses and other luxury properties should be subject to higher council taxes.
Speaking at a meeting on tax at the Conservative Party’s annual conference in Manchester, Lord Leigh said the Government should introduce new council tax bands and charge them higher rates.
The peer, who is a chartered accountant and co-founded Cavendish Corporate Finance, said the Government should “revalue properties in Band H, of which there are 200,000 in England and about 5,600 in Wales.”