Property tax addiction threatens Victoria’s economic future

The Property Council is calling on both sides of Victorian politics to reduce the upper land tax threshold from 2.25 per cent to 1.7 per cent to minimise our dependence on property taxation and ensure our state remains competitive with NSW.

Figures from the latest budget update has shown that Victoria continues to be addicted to property tax revenue, which is forecast to rise by more than $2 billion over the next four years.

By dampening investment and job creation in this state, the current land tax arrangement undermines Victoria’s competitiveness.

The Property Council will continue to advocate for reforms to Victoria’s tax regime to make Victoria the best place to invest, manage and own property.