Article continues below ADVERTISEMENT The Treasury is banking on the revamped 'mansion tax' to bring in a much-needed £400-£450 million, with the surcharge set to be tacked onto council tax bills. Homeowners at the very top of the property ladder will be hit hardest, facing significantly higher bills. But a government insider insisted the fallout for the housing market would be "minimal." "The OBR has factored in a behavioural response to this with a knock-on effect on the housing market. He branded the 'mansion tax' a "compromise measure" that was more about "righting the perceived wrongs" of the council tax system than a serious attempt to fill the Treasury's depleted coffers.
