UK Proposes Higher Mansion Tax for Non-Resident Property Owners

The UK plans to impose higher mansion tax on non-residents who own expensive homes in England, according to a proposal released Tuesday.

The government is exploring whether to apply an additional premium on top of its new high-value council tax surcharge for non-UK resident owners of expensive properties, according to a consultation document open for public comments until July 14.

The UK announced the tax on expensive homes in England last year, targeting properties worth more than £2 million ($2.7 million). Charges start at £2,500 per year, rising to £7,500 for properties valued at over £5 million. The tax ...