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Open Replace Residential Stamp Duty with a Progressive Annual Property Tax

Created by Joseph Onyango
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Replace residential Stamp Duty with an annual property tax: 0% on the first 250k, then modest rates of 0.10%, 0.20%, 0.30% and 0.40%. Do not tax people because they move house. Tax the underlying value of residential property, collect more tax over time, and improve housing-market mobility.

The proposal would make housing taxation more predictable, reduce financial barriers that leave families in unsuitable homes, encourage job-related relocation and increase properties available for sale. Taxing annually would spread contributions over time, rather than concentrating them at purchase. Regular valuations and calculations would support accuracy. As property values rise and ownership continues, the Government would collect more tax over time than through one-off transaction charges.

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    This petition will stay open until 17 March 2027.