Although the Liberal Democrats flirted with the so-called mansion tax I am glad that they dropped the idea. Now I see that Labour have taken it up.
Most economists will say that some sort of land tax is useful in the mix of taxes. We already have Business Rates and Council Tax so the introduction of the Mansion Tax appears to be a little over the top.
I believe that, as far as possible, taxes should be simple to understand, easy to collect, as neutral to the economy as possible (unless they are specifically designed to kerb certain types of action) and perceived to be fair.
The gradual introduction of a simple land value tax to replace Council Tax and Business Rates appears to be a far better course of action. It would be simply to collect. it would not penalise land owners for improving their property and it would not require periodic revaluations – which are inevitably delayed by governments. It would tax land regardless of what was on it so it would encourage the use of the vast wastelands inside our cities called railways (some roads) and unoccupied brownfield sites.