City Of London
UK Unleashes Slew of Property Tax Cuts to Stoke Market
- Threshold for property taxes will be doubled to £250,000
- Tax threshold for first-time buyers increased to £425,000
The threshold at which property taxes are levied will be doubled to £250,000 ($279,440.)
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The UK government is planning a series of tax cuts to stimulate the country’s slowing housing market just as rising mortgage rates make properties less affordable for new buyers.