Edinburgh abandons 300% second-home tax hike after a week

Scotland’s capital city has hit pause on a plan to charge second-home owners an extravagant tax rate, delaying a policy the city pitched as a way to get more primary residences back on the market. The City of Edinburgh Council said it will suspend the 300 percent premium of the normal rate of council tax that began at the start of the month, instead issuing revised bills at twice the normal rate — matching last year’s level — while it reworks the rollout and consults affected owners, according to the BBC. The reverse was made a quick eight days after […] This article originally appeared on The Real Deal. Click here to read the full story.