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The First Interval – Evaluating ACT’s Land Value Tax Transition
By Dr Cameron Murray
Prosper Australia commissioned Dr Murray to examine the early benefits of ACT’s 20 year process replacing conveyancing stamp duty with land tax.
He will present his calculations and conclusions at:
12.30-1.15pm Monday 12 September 2016
Boardroom, Hotel Realm 18 National Circuit BARTON ACT
Main findings:
- Increasing land tax rates appears to have deterred housing speculation
- Future land tax obligations are already capitalised into lower land prices
- Because of this, new home buyers save between $1000 and $2000 per year on mortgage costs
- New housing construction has remained strong during the tax transition period
- Residential rental growth is at historical lows, benefiting renting households
- The distribution of land tax obligations between different types of land holders is the main political sensitivity
Further information: Prosper Australia 03 9328 4792 David Collyer 0413 248 193
* The report is currently under media embargo and will be posted here tomorrow morning.
