Greens propose increased vacancy levy for Brisbane homes

A radical vacant properties plan by the Greens’ Brisbane mayoral candidate has been ripped apart by the deputy mayor. VOTE IN POLL

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Rates on vacant Brisbane properties would be increased twentyfold under a Greens-led council, controversial mayoral candidate Jonathan Sriranganathan has revealed.

The proposal come just days after Labor’s mayoral candidate Tracey Price promised an audit on vacant land in high-density zones and that developers would be slapped with penalties for sitting on empty land.

Greens mayoral candidate Jonathan Sriranganathan. Picture: Richard Walker

Mr Sriranganathan said the Greens plan would apply to all classes of investment properties – not just residential – making it significantly broader than Labor’s who “didn’t actually commit to doing anything about the problem.”

“How many people are sleeping outside while new apartments are left unoccupied?,” Mr Sriranganathan said.

“We’re not going to tell investors how to use their properties, but the whole community suffers when urban sites are left vacant, so we’re creating a financial incentive to encourage them to use the land for something,” he said.

“Our message to investors is simple: If you don’t want to pay the levy, either find a tenant or sell up.”

The former Gabba Ward councillor added that while the levy will only impact a small number of investors “who are engaging in systematic land-banking”, he believed it could be the quickest way to make more housing available to locals now.

“The buildings are already there – we just need to make sure they’re used properly,” he said.

According to the Greens there are between 5000 and 15,000 long-term vacant habitable homes in the Brisbane local government area, in addition to thousands of commercial properties and hundreds of hectares of vacant land.

The Green proposed vacancy levy would be based on Brisbane City Council rates, and set at 20 times standard rates for the property in question. So an inner-city investment unit that ordinarily attracts a rates bill of $1500 per year would pay a vacancy levy of $30,000 if left empty for more than six months “without a good reason.”

Brisbane’s Deputy Mayor Krista Adams labelled the proposal as a “ridiculous and reckless thought bubble.”

“Another day, another batsh*t crazy housing proposal from the destructive Green/Labor Coalition of Chaos,” she said.

“While we’re working hard to reduce building costs and incentivise the creation of new homes, the Green/Labor Coalition of Chaos wants to whack a big new tax on housing that would drive up costs for owners and renters right across Brisbane in the middle of a housing crisis.”

“Not even owners of vacant shops and land have been spared.”

Greens council candidates Wendy Aghdam, Michaela Sargent and Seal Chong Wah. Picture: Nigel Hallett

But Greens candidate for Central Ward Wendy Aghdam said that leaving homes empty in the middle of a housing affordability crisis “costs all of us”.

“We have a simple message for big developers who waste prime land by land-banking while they wait for prices to rise: Build homes or sell to someone else who will,” she said.

“Hundreds of locals have told me of their disgust at homes and shops being left in disrepair. If we truly aspire to be a sustainable, green city we should make better use of existing buildings rather than allowing profit-driven investors to engage in demolition-by-neglect.”

Ms Aghdam explained that the Greens want to see homes and shops being used and revitalise underused spaces for the surrounding community.

“Small businesses have had to shut up shop in areas like Fortitude Valley due to high commercial rent, only to see their old tenancy left empty,” she said.

The levy would apply to investment properties of all categories including houses, apartments, vacant land, and commercial buildings, but not to owner-occupier dwellings.