Basing Local Authority funding on house and business premises prices in that area is an idiotic idea anyway. There are countless reasons why it makes no sense, but here's a starter: Local Authorities where property is expensive end up with more revenue coming through council tax than do areas with cheap housing. I'm not sure who would think that areas with expensive housing would need more money going to that council, when the evidence points to the opposite being true.
If I had my way, I'd scrap it and increase income tax. Then Local Authorities would receive funding from central government according to a clearly defined formula. To some extent, this already happens, it would just formalise the arrangements and ensure that funding local services would fall on individuals according to their ability to pay. If the government is serious about levelling up, then this is what they should do. Of course, they're not remotely serious, and every time a general election comes round, nobody wants to mention raising income tax.
That would only work for liveaboards.