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A New Property Tax – Who Care about Housing Affordability?

#Taxes #Property #HeiseSays
After our first recession in 28 years, skyrocketing housing prices and dreadful housing affordability, a new tax is exactly what we need. 🙂

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  1. Good move to tax land but it needs to be complimented with a reduction in tax on productive work. The only way out of this mess is to let people keep what they earn through their labour and tax the unearned, non productive profit on land values. All capital gains actually.

  2. Actually this is a tax I agree with.
    We've got people sitting on vast tracts of land. A stroke of the pen, and it's worth millions. No offence, but that person didn't deserve that winfall.
    We're not talking of confiscating the wealth, just taking a fair share.

    A bit like the inheritance tax WE DON'T HAVE.

  3. So not only is it an additional capital gains tax, but they'll levy it on you even if you haven't realized the gain after 30 years – taxing you for money you don't even have.
    That's immoral.

  4. There should no property tax at all, everyone mostly work and being taxed. Should have a restriction in place of how many homes each person allowed to buy. Interest goes up, the poor wage earner get punished, it’s been like this for the past 20 years. Only thing change is the rich get richer…!

  5. I'm more & more convinced that the Dictator of state is intentionally running VIC into the ground. Perhaps/likely as a retaliation measure for his warm & fuzzy BRI deal getting thrown into the bin where it belongs.

  6. I can see where they might need it, but I can also see when the re-zoning of an area will lead to revenue increases through no action by the residents.

    Would re-zone leading to less value mean a tax windfall?????

  7. You certainly have this one backward Heise. The unfair distribution is the taxes paid by productive people being gifted to the those who own property that gets rezoned. This is a good tax as it puts more of the tax burden on unearned profit.

  8. From these comments it appears most people are totally ignorant to the current situation. This tax will only impact those who are currently making collective billions off land speculation and rezoning. It appears most people somehow think this will impact the average person. This may help to encourage productive endeavours instead.

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