Reform call for ‘regressive’ property taxes Larry Elliott in the Guardian suggests that reform of the UK’s property taxation would make economic sense and prove popular with voters. He says the property tax system is “regressive, inter-generationally unfair and accentuates the north-south divide.” Lobby group Fairer Share proposes replacing council tax – together with stamp duty and the bedroom tax – with a proportional property tax (PPT) based on values that are uprated annually. The tax would be levied at a flat rate of 0.48%, apart from on second homes and empty homes, when it would be 0.96%. It is calculated that this would raise around an extra £5bn a year for the Treasury.