Re: oz- NSW Government makes a killing from gambling taxes: $1.65b a year
- From: Terryc <newsthreespam-spam@xxxxxxxxxx>
- Date: Thu, 17 Apr 2008 17:27:51 +1000
Jerry wrote:
In the States we pay property tax on any property we own, including
primary residence. Do you not pay tax if you own your own home?
We call them "rates" being for services provided by local government aka roads, rats/garbage, library, sporting fields recreational facilities, etc, etc. Water & electricy varies as in some places; these are separate bodies.
AFAIK, in most states there is a separate land tax based on "unimproved capital value". NSW tried to make it everything after family home, but the pollies recanted. If it is too high, the cashedup retirees take the money out of your state when they retire.
Part of the hoo-har here is that owning a "holiday" place on the coast was a thing, then the UCV soared with land boom. Bit of an income tax lurk really for those who could afford them. You got a tax break on the loan interest to buy them if they were for rental to holday makers.
So lots of suppossedly ordinary people soundly found the old fibro shack (very simple dwelling) was worth a motza and they suddenly had to pay big taxes.
Now it is back to the third plus property. Note, based on unimproved capital value" of the land only, so if you are making piles of money off the block, you do not pay extra.
.
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