‘They’re going to have to sell’: New land tax beginning to impact property owners

One Real Estate agent director is starting to see the real-life impact of new land tax rules.

Thousands of Victorians will be impacted by the fresh land tax rates, which came into effect to start the new year.

Liz Jensen is a director at Kay & Burton in Portsea and says she’s expecting many properties to be put back on the market as a result of the state government’s new rules.

“It is a big impost to many people and property owners,” she told Heidi Murphy on 3AW Drive.

“Many property owners down here (in Portsea) who do have to part with their properties because they didn’t plan to have this extra cash flow problem. They are going to have to sell in order to avoid those taxes.