A radical new tax idea could flip the property game: taxing land value instead of buildings, potentially slashing stamp duty and council tax—but with a twist. In pricey spots like London, homeowners might see bills spike from $3K to $12K+ annually. Critics warn it could devastate savers, crash values, and create winners and losers. The architect of this plan, mentored by Andy Burnham, admits it’s a decade-long political minefield—especially for those rich in assets but cash-poor. Inspired by Australia’s slow rollout, the plan’s still in early stages, but the ripple effects? Huge.
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