Revealed: The 600,000 London homes that could be revalued under Budget 'mansion tax'

At a glance

• The Chancellor is reportedly planning an annual council tax surcharge on homes valued above £2m

• Almost 600,000 homes in London are in the top three council tax bands - and that’s based on sale values that are more than 40 years out of date.

• Experts say London and the South East are the areas most at risk of a mansion tax

The London homes most at risk from a rumoured “mansion tax ” can be revealed.

According to reports, Chancellor Rachel Reeves will use her Budget on Wednesday to introduce a surcharge on more than 100,000 of the most expensive homes in the UK.

She is believed to have watered down her initial plan to impose the levy – estimated at an average of £4,500 – on homes worth £1.5m more.

Instead, she is expected to only target those valued in excess of £