Jersey politician calls for stamp duty to be raised on second home purchases

Drone shot of town houses in Jersey
Islanders could soon have to pay more stamp duty on their second homes. Credit: ITV Channel

People in Jersey may soon have to pay 4% stamp duty on second homes. Deputy Max Andrews has lodged an amendment to increase stamp duty and ring-fence the extra money to help first-time buyers.

Deputy Andrews wants the funds to be placed in the Dwelling-Houses Loan Fund, which helps first-time buyers get on the property ladder.

As part of the Government Plan, politicians plan for a 3% rise but some say this is not enough.

Deputy Andrews' additional 1% duty could provide an additional £400,000 to help first-time buyers.

Deputy Raluca Kovacs from Reform Jersey has also lodged an amendment, saying stamp duty on second homes should be 10%

But some estate agents say increasing stamp duty would simply kill the rental market.