Owners rather than occupiers will pay the new council tax surcharge on high-value properties, according to a Budget summary from the trade body Propertymark.
Propertymark says the Chancellor, John Healey, has set out further detail of the surcharge, which will sit alongside existing council tax. It reports a deferral scheme for eligible owners, together with exemptions and discounts.
It also reports a 100% premium on homes left substantially unfurnished and unoccupied for at least 12 months.
The summary does not give the thresholds or rates for the surcharge. Propertymark's account has not been independently checked against the Budget documents.
Separately, Propertymark reports that the government will remove Stamp Duty Land Tax on rent paid under assured tenancies in England, following the Renters' Rights Act 2025.
The trade body called the Your First Home scheme and the First Time Buyer ISA positive steps, but urged wider reform.
"The UK Government must also consider wider reforms to the housing market, including Stamp Duty, to help people move more easily through different stages of homeownership."