Mansion tax

A mansion tax is a common name for an annual property tax on high value homes, although the term itself is widely regarded as a misnomer.

Until the Budget of Autumn 2025, the tax was only a proposal in the United Kingdom, but will now come into effect in April 2028 on properties worth over £2 million.

Many US states levy a surcharge on the highest-value homes or have a progressive taxation in their real estate transfer tax system, sometimes referred to as “mansion taxes.”