Peers debate doubling of empty homes tax to force more into sales and rental markets

Many thousands of additional homes may be added to the sales and lettings market next year if new legislation being debated today in parliament becomes law. Peers are to complete the committee stage of the Rating (Property in Common Occupation) and Council Tax (Empty Dwellings) Bill this afternoon to consider allowing councils to double the premium they charge on their local council tax rate if a property is ‘long term empty’ or for more than two years. This would increase from 50% to 100% for homes not occupied for more than two years, peers have been debating during the bill’s first two readings in the Lords. It’s a measure that is part of attempts to help councils reduced the number of empty homes in the UK. “This means that local authorities will have the discretion to double the council tax bills of properties that have been empty for two years or more,” said Welsh peer Nicholas Bourne (left) He revealed during his speech that the existing measure of a 50% premium had already dramatically reduced the  number of homes that are long-term empty since it was introduced in 2010. The number of properties that are long-term empty has reduced by…