Property tax collections in Scotland have surged by 50% in just two years, an analysis reveals.

Lettings and estate agents DJ Alexander Ltd, shows how revenues for the Scottish Government originating from the Land and Buildings Transaction Tax (LBTT) have soared in June 2023.

It says the Scottish Government collected £61.7 million in June 2023 – from just 8,780 property sales.

That’s an average of £7,027 per transaction.

In June 2021, the governmental coffers saw £52.1 million from 11,120 transactions, with each property contributing an average of £4,685.

The firm says the £2,342 jump in the average property sales revenue is a 49.9% rise over two years.

The government raised £650.3 million from July 2022 to June – an increase of 10.5%.

However, June has also seen the highest ever figure of £21.8m for additional dwelling supplement (ADS) which is paid on second homes and those bought to be offered to let in the private rented sector.

The firm’s chief executive, David Alexander, said: “These figures highlight just how much the tax on buying a home in Scotland has risen in recent years.

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