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A report Rachel Reeves is mulling proposals which would see sellers facing a new tax on houses worth over £500,000 has been dismissed. The Guardian newspaper reported officials are looking at a potential national property tax, which would replace stamp duty on owner-occupied homes. It said the levy would be paid by owner-occupiers on houses worth more than £500,000 when they sell their home, with the amount due determined by the value of the property and a rate set by the Government. But a source said to be close to the Treasury has told the Telegraph: "That’s definitely not going to happen." Continue reading at: https://www.express.co.uk/news/politi... Read Daily Express: https://www.express.co.uk Like Daily Express on Facebook: / dailyexpress Follow Daily Express on Twitter: / daily_express Follow Daily Express on Instagram: / dailyexpress #DailyExpress #News #rachelreeves #ukpropertytax #ukproperty #labour #ukpolitics #taxrises #taxes #tax #ukeconomy #ukgdp #propertytax