Greens-Labor Deal to Make Victorians Pay Triple Vacancy Land Tax

Victorian residents who own multiple homes could face a triple vacancy land tax following a deal between the state Labor government and the Green Party. On Nov. 28, the Greens announced that it had reached an agreement with Labor over a proposal to reform Victoria’s land tax system. If the legislation passes the parliament, the state’s vacancy tax for homes that are unused for more than three years will rise from one to three percent. A Win for Renters: The Greens The Greens hailed the outcome as a “win” for struggling renters, saying that wealthy investors were keeping homes empty while people experienced record levels of housing stress and homelessness....