What alternatives for revaluation is Labour considering?
Several were proposed in the ODPM’s “Balance of Funding Review” (2006). One option is for new bands, added at the top and/or bottom of the current system. Another option is for the range of property prices included in any particular band to be adjusted, by, for example, changing the “multipliers” that link each band in the council tax system. Simulations show that high house price rise areas like London and the South East and South West lose under these types of options too. A third alternative under consideration is “regional banding”, where new bands are calculated for each region separately, according to regional house price inflation. This type of option can provide some limited protection for high house price areas, but there are still many losers.
