The government has confirmed a review of the property tax will take place before the next election.

A spokesman says the government wants to make sure the tax "remains affordable" - by delaying a possible increase in the tax in two years time.

The value of the property tax is linked directly to the value of the property itself.

But while house prices are up by around 16 per cent in the last year, the property tax has been frozen - and is meant to stay at its current levels until the end of 2016.

Based on current rates, houses could then be worth around 70 per cent MORE than they were when the tax first kicked in and that would mean the tax woudl be 70 per cent higher too.

But it's now been confirmed that the tax WILL be reviewed well ahead of the next election.

A spokesman said the government was "acutely aware" of how rising property prices would mean a huge hike in the tax that most people would pay.

ANd it says the tax will be reviewed - so that it remains "affordable" for households.

The news comes a full two years before the increase would have kicked in - and it's likely to lead to further speculation that an election isn't far away.