Industrial landlords, property investors face land tax hike in NSW
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Residential investors and industrial property owners in Australia’s largest real estate market are set to pay more land tax next year due to surging property values in those sectors, said NSW Valuer General Dr David Parker.
Dr David Parker, Valuer General NSW, says official property value increases are likely for the residential and industrial sectors.
But Dr Parker had good news for owners of five-star hotels, serviced apartments and regional shopping centres, saying valuation increases were unlikely.
“From what I’ve seen in the media on sales trends and auction clearance rates, I would expect land values to rise, generally speaking,” Dr Parker said.