The things that will cost you more in Victoria from January 1

If you thought the new year would bring with it a cost-of-living reprieve, think again.

Myki fees, CityLink tolls and land taxes are all set to increase in Victoria from January 1.

Myki fees, CityLink tolls and land taxes are increasing in Victoria from January 1, 2024.Credit: Jamie Brown

The state opposition says it’s a sign Labor can’t manage money and that ordinary people are paying the price. But the Allan government insists the adjustments are necessary to maintain the state’s services.

Here are some of the fees that will rise on New Year’s Day, so you can judge for yourself.

Public transport

Daily full-fare public transport tickets will increase by 60¢ to $10.60 for travel anywhere across Victoria on trams, buses and trains. Concession fares will rise by half as much to $5.30.

The myki and V/Line fare hike will be the second in six months after a surprise rise in June bumped a full-fare daily pass up by 80¢ to $10.

Public Transport Minister Gabrielle Williams last month defended the cost increase, pointing out fares were frozen during the COVID-19 pandemic and now needed to meet rising public transport costs.

Roads

Victorians driving to the suburbs, airport or regional parts of the state via CityLink will be paying more for every trip.

A 24-hour pass for a car using the popular tollway will increase from $21.63 to $21.86 on January 1 – a hike of just over 1 per cent. CityLink, which adjusts its prices quarterly, last increased its fees on October 1, 2023.

The government also says the cost of general-issue licence plates, slimline black custom licence plates and black motorbike plates have all increased by $15.

Black custom and black motorbike plates will now cost $220 and general issue plates $185.

Property

Hiked land taxes as well as charges on vacant homes have been the most politically contentious of the changes due to come into effect from 2024.

From January 1, there will be new fixed charges on Victorians who own a second home or an investment property. A flat rate $500 annual tax will hit properties with a land value between $50,000 and $100,000.

The payment will increase to $975 for homes valued between $100,000 and $300,000, while an extra 0.1 per cent of the land value will be applied to properties worth more than $300,000.

The government forecast at the state budget that 860,000 Victorians will be affected, of which 380,000 will be first-time taxpayers.

This measure will last for the next 10 years as part of the government’s “temporary” measure to pay down its COVID debt. Meanwhile, the absentee owner surcharge is jumping from 2 per cent to 4 per cent.

Labor says its hiked land taxes will primarily affect those who own more than one property and that the family home will remain exempt.

The average increase in land tax from the temporary levy will be $1300 on a land valuation of $650,000 – which equates to a holiday or investment property worth about $1.3 million.

Holidays and school camps

Ports Victoria has an across-the-board increase in fees and charges of 10 per cent at the Port of Geelong and 15 per cent at the ports of Hastings and Melbourne (including Station Pier). But it’s not just cruise ship passengers who can expect higher fees. The school zoo admission price will increase by $2 in the new year, a jump of almost 10 per cent. The Alpine Resort bus passenger fee is also up 11 per cent.

Safety certificates

The cost of electrical safety certificates is also going up by as much as 11 per cent. From New Year’s Day, the cost of a certificate for prescribed electrical work – for example, checking switchboards and circuit breakers – will increase from $35 to $36.57. Certificates for non-prescribed electrical work will jump from $8.10 to $9.

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