Victoria's housing affordability crisis is set to worsen as the Allan Labor Government plans to introduce a new Home Owner Tax on all properties across Victoria.
New reports today have revealed the Allan Labor Government is set to replace the Growth Areas Infrastructure Contribution (GAIC) charge - currently set at up to $131,360 per hectare, with a new Victoria-wide tax on all properties across all postcodes.
Under the Allan Labor Government, Victorians are paying the highest property taxes in the nation - which is leading to higher property prices, higher rents and is driving critical investment in new supply interstate.
Furthermore, Labor has announced plans to impose mandatory housing targets on local government areas, with any council that fails to meet this target to be stripped of planning powers altogether.
Shadow Treasurer, Brad Rowswell, said: "This big new tax on every home in the state will only worsen the housing affordability crisis and add further cost-of-living pressures on households.
"Labor simply doesn't understand - higher taxes means fewer homes. This tax isn't about delivering better infrastructure, it's about desperately trying to fill Labor's budget black hole.
"Labor cannot manage money and Victorians are paying the price."
Shadow Minister for Planning, James Newbury, said: "Labor has flagged its intention to take Victoria down a very dark path where communities no longer have any say about their streets.
"Victoria's property sector is already struggling and Labor's great big new Home Owner Tax will strike the nail into the coffin of future development."
