Victoria: Homeowners who let property sit vacant for six months in a year to be ... trends now

Victoria: Homeowners who let property sit vacant for six months in a year to be ... trends now

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Owners of homes that sit vacant for more than six months in a year will be ordered to cough up extra tax, the Victorian Government has announced.

From January 1, homeowners across the state will be liable for vacant residential land tax (VRLT) if properties are vacant for more than six months in the calendar year.

The tax currently only applies to homes in the inner and middle suburbs of Melbourne, with the state government identifying hundreds of apartments that have been left vacant through a recent investigation.

Authorities in Victoria recently targeted five apartment buildings in Melbourne and found 177 properties that were liable for the tax.

The investigation will now expand to 13 more apartment towers across the city, as well as houses in the inner and middle suburbs of Melbourne.

A recent investigation of five buildings in Melbourne found more than 170 vacant apartments that were liable for the vacant residential land tax

A recent investigation of five buildings in Melbourne found more than 170 vacant apartments that were liable for the vacant residential land tax

The tax was introduced to help ease the housing crisis by encouraging home owners to rent their properties for at least six months of the year to avoid receiving a VRLT assessment.

The longer a home sits empty, the more the tax rate increases, based on the number of consecutive years the property sits vacant.

Victorian Treasurer Tim Pallas said the government knows Victoria needs more homes, and by cracking down on vacant properties they were easing the housing pressure being felt across the state.

'Expanding vacant residential land tax will free up empty houses for rent and sale, boosting supply and

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