00:00A new tax on high-value homes is facing criticism from four London councils. They say residents
00:07in their areas could provide a large share of the money raised. The government plans
00:11to charge owners of homes worth £2 million or more from April 2028. The annual surcharge
00:18will start at £2,500, rising to £7,500 for properties worth more than £5 million. The
00:28policy will apply in England, including areas outside London, and fewer than 1% of properties
00:34are expected to be affected. The government says the change will address an unfairness
00:40in the current system and raise money for local services.
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