r/Glasgow Tools

Thanks for the info, I did hear that rebanding was due recently but didn't happen, I decided to do some learning based on this and these are my thoughts, happy to open some chat one this because my knowledge if obviously VERY basic.

Really I would take revaluation and rebanding as something that should be done on a regular basis, I realise this will be called out as a huge admin burden, but I can get a relatively up to date valuation of my property by just checking my mortgage account. Or take sales figures from one house per street (or small area) and use that and work out some bandings. Doesn't actually seem that hard (but I could be oversimplifying). In terms of the effort/results this is likely the easiest of the options.

My favourite is probably the Proportional Property Tax. Just seems like such a simple system for home owners, get rid of all the stamp duty and stuff and stick a % on the value of the property regularly. I reckon it will be shot down by people with rental properties and housing associations given renters won't need to pay (which I think is a good thing IMO).

Property value tax seems popular from an economists POV (after a cursory Wikipedia lookup), but I think the burden of implementing would be enough to have the council bin it. I amn't an economist by any means, but this seems to be a good system where increasing your property value doesn't cost you more, and it's in place in a lot of countries known for good public welfare.

Local income tax seems like something really simple, but it would require the council to work with HMRC to implement and it's open to the same issues as income tax in that the wealthy will find ways to make their tax "efficient" meaning that the richest in town will likely end up paying hardly any of this.