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Originally Posted by MovedGoalPosts
Yep prices can change disproportionately between neighbourhoods. Over time this does affect the accuracy of bandings. The biggest problem though is that bandings are based on a moment in time, so far back, that few can make any comparison with current reality.
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True, but...
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Business properties are revalued at five yearly intervals. The same should have been applied to housing. But no doubt the cost of such regular revaluations would be so administratively burdensome that the costs of council tax would escalate yet again.
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... however even five years may be too long. I bought this flat for £57,500 about 2 1/2 years ago. Were I to sell it now it would be worth around £90,000 .
In some parts of Portsmouth prices have appreciated even more in that time.
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*Wonders why noone complains about water rates to the same degree as council tax, yet these to are based on historic property values.
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Because it's not a political issue? Anyway, if people are concerned about their water rates, they can consider going onto a meter system if they have low usage.
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Maybe it's because water bills are regulated, and can't increase too much relative to inflation. Wonders why the same regulation constraints to prevent vast increases aren't applied to council tax.
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Well there are supposed to be caps on council tax rises, but since it's a political issue, they're not so easy to deal with.