Do not introduce a new property tax without protecting recent stamp duty payers

Homeowners who recently paid substantial Stamp Duty could be unfairly disadvantaged. They would have paid a large upfront tax under the existing system, only to face a new annual property tax shortly afterwards, while future purchasers benefit from the abolition of Stamp Duty.

Any reform should provide a full credit for Stamp Duty paid within five years of implementation, applied against future property-tax liabilities, plus a phased transition and protection from excessive increases.