Victorians are struggling to pay Labor’s highest-in-the-nation property taxes on time, as new figures confirm that more than one-in-three unpaid land tax bills are more than 12 months overdue.
The Department of Treasury and Finance (DTF) 2023-24 annual report confirms 33.45 per cent of overdue debt – that is, unpaid tax bills are more than 12 months overdue, 34 per cent higher than the target level.
The Nationals’ Member for Shepparton District, Kim O’Keeffe said that this data shows that Victorians are really struggling to pay Labor’s crushing property taxes.
“With the Allan Labor Government imposing the highest property taxes in the nation, it should be no surprise that so many Victorians are under extreme financial pressure and struggling to pay on time.
“This data provided by DTF highlights the unachievable financial expectations from the government when they are taxing Victorians to the max.
“I have been inundated with constituents shocked by the extreme increase in land tax and the unexpected financial stress this has caused.
“Many simply cannot afford the imposed increased land tax and are selling their properties as it is no longer viable and are struggling to cover the increased tax.
“Under Labor, Victorians are paying the highest property taxes in the nation, as state’s net debt is forecast to reach a record $187.8 billion by 2027-28 and interest repayments alone are expected to exceed $1 million an hour, which is astonishing.
“There is so much more we could be doing with that money.”
Ms O’Keeffe said that Labor’s tax bill backlog will only worsen as their latest land tax hikes add even more pressure to household budgets, rents, property prices and further weaken confidence in the residential construction sector.
“This is yet another example of Victorians paying the price for Labor’s financial mismanagement.”