Scotland's New Housing Tax is First in 300 Years

Scotland's New Housing Tax is First in 300 Years

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Tara Bellucci
Oct 27, 2014
(Image credit: Simon Dawson/Bloomberg)

Scotland's regional Parliament approved the Land and Buildings Transaction Tax earlier this month. The new tax, the first in 3oo years, goes into effect in April. Meant to reduce inequality, the tax won't apply to Scots purchasing the cheapest housing, and will raise taxes on real estate purchases an average of 56%.

First Scottish Tax in 300 Years Seen Cooling Housing | Bloomberg

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