Liberal Democrats are seeking to add a new council tax band on houses. The current top band limit is £320,000. Lib Dem leader Nick Clegg has set out his new plans.
The current band limits are based on notional 1991 valuations to attempt to be fair and consistent. Adding a new band will be complex, probably require an expensive revaluation exercise and almost certainly end up with most people paying more tax.
National band limits will hit Cambridge hardest. Cambridge house prices are high and set to increase.
It seems likely that this Lib Dem policy will result in the majority of people in Cambridge paying significantly more council tax than they do at the moment.
For some, they will pay a huge amount more.
Remember, council tax is to pay for services. It is not a wealth tax. Or at least it wasn’t but the Lib Dems are set to change that.