The Allan government in Victoria is considering expanding the levy on developers to help fund local infrastructure. However, industry and the Coalition are concerned that this could worsen housing affordability and lead to higher costs for consumers.
More developers would be slugged with a levy to help pay for local infrastructure under a plan the Allan government is considering, as Victoria prepares to squeeze thousands of new homes into existing suburbs.
Two senior government sources, speaking on the condition of anonymity to discuss internal matters, confirmed discussions about broadening the levy to include all of Melbourne or even the entire state to fund incoming housing reforms. A final proposal has not yet been signed off by cabinet. Half of the existing fund will be made available for public transport projects such as new bus routes, or for road improvements in these areas. The Department of Transport and Planning will have input on creating a shortlist that will be passed on to ministers.
The Growth Areas Infrastructure Contribution was established in 2010. The rates for the 2023-24 financial year are either $110,590 or $131,360 per hectare,. Payment is due within three months of title transfer. However, there are exemptions, such as land that is five hectares or less.
Developers Levy Local Infrastructure Victoria Housing Affordability Costs Consumers
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