“Homeowners in more than a dozen city and county council areas are in line for a property tax rate cut next year. A briefing note, prepared for the Economic Management Council (EMC), says between 12 and 14 councils will have sufficient funds to cut their rate. However, any reduction in property tax rates would be subject to the Government not landing local authorities with extra costs or cutting their central funding. Separately, a freeze on the valuation of houses for the property tax for the next five years is also being discussed within the Coalition. The discussions will come as a welcome boost to families who have been hit with a series of stealth taxes over the past seven years.”
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