With the proposed High Value Council Tax Surcharge (often referred to as the "Mansion Tax") property values are expected to be assessed by reference to their value in April 2026 to determine whether they fall within the scope of the new charge.
The government has confirmed that properties valued at £2 million or more will be subject to the surcharge from April 2028, with valuations expected to be published in late 2027 and undertaken by the Valuation Office Agency using a model-assisted approach.
So, what's one practical thing homeowners can do right now?
Take photographs of your property. Lots of them.
Don't just focus on the best bits. Capture everything, particularly areas that may need repair, refurbishment or updating.
Why? Because property condition can have a significant impact on value. If there is ever a need to demonstrate the condition of your home as at April 2026, a dated photographic record could become valuable supporting evidence.
As Valuers, we expect evidence around a property's condition, specification and state of repair to become increasingly important as the new system develops.
If your property is anywhere near the proposed £2 million threshold, obtaining independent advice from an experienced local Valuer could also prove invaluable when the time comes.
In the meantime, taking a few photographs today could save a lot of questions tomorrow.
Have you documented your property's condition recently?