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5

An important consideration regarding the proposed mansion tax is the likely controversy behind the

method of property valuation and the costs associated with it.

Additionally, potential revenue loss in

other areas must be considered. For example, income tax revenue is likely to decline as the mansion tax

deters overseas talent from purchasing property in the UK. The effect on wealth migration into the UK is

likely to be made larger if, as has been suggested, foreign property owners are charged higher rates of

mansion tax than domestic owners.

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