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Property tax in London? You mean ... council tax? For a penthouse in the City - 2,194 pa. There is a one time sales tax (stamp duty) but that's not what you mean I think.

Oligarchs owning property in London are not forced to contribute to the London coffers .... not at all

https://www.cityoflondon.gov.uk/services/council-tax/council...

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So... I am supposed to believe that ultra high income people that are known to engage in a high degree of conspicuous consumption while using minimal government services contribute nothing to the budget? They don't pay way more in VAT than the average person? They don't create any construction employment that in turn is taxed? I'm not saying they're good people or anything but if anything it seems like their obvious benefit is that they contribute to the economy.

The original post was about property tax specifically. Walk down Park Lane at night and look at the dark million dollar apartments - if no-one lives there there is not a lot of "trickle down" happening - the maids, the drivers, the restaurants, the money does not flow unless they are home. But the point of super rich is to avoid states and their taxes and capricious democratic decisions.

Yachts are useful for that.

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