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Balls Says Mansion-Tax Threshold to Rise With Home Values

U.K. opposition Labour finance spokesman Ed Balls said the threshold for his party’s planned mansion tax would rise in line with house prices for properties valued at more than 2 million pounds ($3.2 million).

The move would ensure that more homes don’t fall into the tax bracket as values increase, Balls wrote in an article for the London Evening Standard newspaper today. The tax would be levied through a banded system, meaning that those owning properties valued at between 2 million pounds and 3 million pounds would only pay an additional 250 pounds a month, Balls said.