Victorians to pay the highest property tax rates in the country according to report

The state opposition says the high tax rates will affect housing affordability

In comparison, people in New South Wales will pay around $1,650 and Queensland residents will pay around $1,340. "This reliance on land tax partly reflects lower revenue from other sources, such as commonwealth grant revenue and royalties," the report said. "It means fewer homes, it means as property owners are slugged with higher land tax bills less and less homes are going to come into the rental market and that's not going to fix our housing supply shortage in Victoria."The government announced in the state budget in May that the threshold for Victoria's land tax will be lowered from $300,000 to $50,000.

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New report reveals Victorians' property tax nightmare to worsenVictorians face the highest taxes on properties across the nation which will continue to soar from 16.3 to 17.4 per cent, according to a new report.
Source: SkyNewsAust - 🏆 7. / 78 Read more »