LAND is Scotland’s largest store of untaxed wealth and the country could raise more than £400 million every year if it taxed it in the same way…
Scotland's land is a huge resource of untapped wealth, and taxing it could raise hundreds of millions, a new report saysLAND is Scotland’s largest store of untaxed wealth and the country could raise more than £400 million every year if it taxed it in the same way as housing, according to a new report.
“If your back green or a private driveway add value to your house, you’re being taxed for them. If you own a 5000-hectare shooting estate, you’re not taxed on any of it. How is that fair exactly?” Robin McAlpine, Common Weal’s head of strategic development, said. The paper, which has been authored by the think tank’s head of policy, Craig Dalzell , points to nations such as Australia, where land taxes are already in place and controlled at state level.
The report states: “A property tax on buildings set at 0.63% would be ‘revenue neutral’ compared to council tax in 2019 – and would attract up to £650m extra in 2023 given house price rises in the intervening time.It notes that, in Australia, a tax is levied on the value of all land owned by an individual within a state at midnight on December 31 of each year, with exemptions for things such as primary dwellings and farmland.
“Land taxes are amongst the most important untapped tools that we must utilise to change the face of Scotland for the better.”“In short, too few people own too much of Scotland and the burden of providing for all of us lies on too many who can afford too little. “We have convened a joint working group with Cosla on sources of local government funding, which is exploring a range of potential measures, including approaches to longer-term reform of local taxes, including council tax.We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
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