Ben Carroll pledges to lift Victorian land tax threshold by $25k yearly
New Labor Premier Ben Carroll promises to raise the land tax threshold by $25,000 each year, returning it to $300,000 by 2033.
The new Victorian Premier announced the reversal on Sunday, weeks before the state election in November. Labor lowered the threshold to more than $50,000 in 2023 under former Premier Daniel Andrews to tackle COVID-era debt.
Carroll's plan would gradually undo that, saving affected landowners up to $975 a year. The tax applies to land worth over the threshold that is not the owner's primary home.
About more than 250,000 Victorians would benefit. The rollback costs the state $230 million over five years, but Labor said it would offset this through delayed infrastructure projects and public service cuts.
The Coalition announced a similar plan in May but pledged faster restoration, hitting $300,000 by 2031/32.
- $25,000
- Annual threshold increase
- Over 250,000
- Victorians affected
- Up to $975
- Annual savings per taxpayer
- $230 million
- Five-year budget impact
Why it mattersProperty investors and second-home owners face significant tax savings, while the state budget shrinks heading into an election.
AustraliaVictorian property investors and landowners with holdings over $50,000 would save money if Labor wins the November election.
✓ Claims checked against the source. checked 3 h ago
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