DATA indicates that many Victorians are having difficulty paying their property taxes, with more than one in three land tax bills being over 12 months overdue. According to the Department of Treasury and Finance’s 2023-24 report, 33.45 per cent of these bills have surpassed the one-year mark, which is 34 per cent higher than the target.
State Member for Shepparton, Kim O’Keeffe, said that this data indicates many Victorians are struggling to pay the Labor government’s high property taxes.
“With the Allan Labor Government imposing the highest property taxes in the nation, it should be no surprise that so many Victorians are under extreme financial pressure and struggling to pay on time,” said O’Keeffe.
Ms O’Keeffe reported being inundated with constituents shocked by the substantial increase in land tax and the unexpected financial stress this has created.
“Many simply cannot afford the imposed increased land tax and are selling their properties as it is no longer viable and are struggling to cover the increased tax.
“Under Labor, Victorians are paying the highest property taxes in the nation, as state’s net debt is forecast to reach a record $187.8 billion by 2027-28, and interest repayments alone are expected to exceed $1 million an hour, which is astonishing,” O’Keeffe said. “There is so much more we could be doing with that money.”
Ms O’Keeffe said that Labor’s tax bill backlog will only worsen as their latest land tax hikes add even more pressure to household budgets, rents, property prices and further weaken confidence in the residential construction sector.
“This is yet another example of Victorians paying the price for Labor’s financial mismanagement.”
