Victorian windfall tax will hit urban infill, developers say
Michael BlebyDeputy property editor
Victoria’s planned windfall tax on rezoned land risks bringing the state’s much-needed urban infill to a halt, developers warned on Sunday.
The Labor government’s budget decision to raise an estimated $40 million from the value uplift of rezoning decisions will provide only a fraction of the total $2.7 billion it is seeking as a budget repair measure, but could make middle-ring development projects less viable.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
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