‘MANSION TAX’ VALUATIONS AND APPEALS

The High Value Council Tax Surcharge (HVCTS), known as the ‘Mansion Tax’, announced in the November 2025 Autumn Budget and coming into effect in April 2028, will be applied to properties valued at £2 million or more (with recent speculation about lowering this threshold to £1.5 million).

Homeowners may be liable for an additional £2,500 to £7,500 per year tax on their properties.

The Valuation Office Agency (VOA) is conducting desk-based, automated data assessments to identify properties that breach the threshold, using April 2026 market values as the benchmark. Homeowners are expected to be notified by Autumn 2027 if their property is deemed liable, with a six-month window to challenge the valuation before the first payments are due. Revaluations will occur every five years.

Key Details & Timing:

  • Implementation Date: The tax officially comes into effect on 1 April 2028.

  • The Threshold: It will apply to properties valued at £2 million or more.

  • Who Pays: It is to be levied on the legal owner or long-leaseholder of the property, not the occupying tenant.

  • Where the Money Goes: Paid directly to the central UK Treasury.

Tax Bands and Cost

The surcharge is a flat annual fee split into four progressive value bands:

Property Value

£2.0 million to £2.5 million: £2,500 per annum

£2.5 million to £3.5 million: £3,500 per annum

£3.5 million to £5.0 million: £5,000 per annum

Over £5.0 million: £7,500 per annum

Homeowners with properties valued at £2 million or more will require a RICS approved ‘Red Book’ Valuation in order to appeal the VOA’s valuation, which is highly recommended; the VOA’s desktop valuations will not reflect the true condition or specification of individual properties and are therefore likely to be inaccurate.

An RICS valuation is an impartial, expert assessment of a property's market value, conducted by a qualified surveyor according to strict ‘Red Book’ standards, conforming to International Valuation Standards.

Key Aspects of RICS ‘Red Book’ Valuations: 

  • Expertise & Objectivity: Conducted by a registered RICS professional ensuring unbiased and accurate market valuations.

  • What is Assessed: The property's condition, location, size, and recent local market sales data.

  • Scope: Focused on determining the monetary value of a property.

We value properties across London and the South-East; postcodes covered include:

  • KT – including Chertsey, Claygate, Cobham, Epsom, Esher, Ewell, Leatherhead, Kingston, Surbiton, Thames Ditton, Walton, Weybridge.

  • GU – including Cranleigh, Haslemere, Hindhead, Godalming, Guildford, Woking.

  • SW – including Balham, Barnes, Battersea, Chelsea, Colliers Wood, Putney, Streatham, Tooting, Raynes Park, Wimbledon.

  • TW - including Twickenham, Hounslow, Richmond, Teddington, Feltham, Shepperton, Staines-upon-Thames, Egham, Ashford.

  • RH - including Redhill, Reigate, Dorking, Crawley, Horsham, Gatwick.

All valuations are carried out by Giles Cooper, an experienced MRICS qualified / RICS Registered Valuer, and are provided with accuracy and speed; reports and valuations are provided within two days of inspections.

Please contact us if you would like a ‘Red Book’ Report and Valuation of your property; the valuation date is April 2026 and we are carrying out ‘Mansion Tax’ valuations now.

Contact: Giles Cooper MRICS - Registered Valuer

T +44 (0)20 7432 7610
M +44 (0)7900 271 299
E giles.cooper@crre.co.uk