A Greens-led Melbourne council is considering doubling rates for landlords to more than $3500 a year, and halving them for owner-occupiers and businesses, after being inspired by the exodus of property investors caused by the Victorian government’s increased land taxes.

Merri-bek council, which takes in suburbs like Brunswick, Fitzroy North and Coburg, will on Wednesday night consider a proposal to examine whether a differential rate for property investors, owner-occupiers and businesses is legally possible.