Vicars in London to be hit by ‘mansion tax,’ warns Bishop with parishes unable to pay new levy

There will be four “mansion tax” price bands with the surcharge starting at £2,500 a year for properties worth over £2 million to £2.5 million, £3,500 for those valued at £2.5 million to £3.5 million, £5,000 for homes worth £3.5 million to £5 million, and £7,500 for properties worth more than £5 million.