The state government is estimated to have made more than $2 billion from land tax last financial year, $300 million more than the year before. Nearly 200,000 properties were subject to the land tax in 2023-24.
More than 194,500 properties were subject to land tax in Queensland in the last financial year, a 14 per cent jump from the year prior.
According to new figures from Queensland Treasury, the number of properties subject to land tax reached 194,579 in the 2023-24 financial year. In recent years, the valuer-general has issued sizeable increases in land valuations across the state.In Brisbane, land values increased by 17.5 per cent in 2022, followed by an 11.9 per cent hike in 2023.
Real Estate Institute of Queensland chief executive Antonia Mercorella said the increase in properties subject to land tax was "considerable".)"This is something we have been vocal about for some time now," Ms Mercorella said. "The threshold of $600,000 also means those with small investment property holdings generally only pay a minimal land tax liability," he said.
Queensland David Janetzki Antonia Mercorella Reiq Queensland Treasury Exemption Stamp Duty Land Values Localnews Queensland Government Qld Govt Land Tax Buying A House Queensland Land Valuation Real Estate Institute Of Queensland Treasury Queensland Revenue Office
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