London homeowners could collectively pay an estimated £7.5 billion ($9.90 billion) more each year under a property tax plan backed by Andy Burnham, according to newly published analysis. The proposed overhaul would replace council tax and stamp duty with an annual levy based on a property's current market value.
The analysis suggests the impact would vary across the capital. Homeowners in higher-value boroughs could face significantly larger annual bills, while many households in several outer London boroughs would pay less under the new system.
