NSW Rates on Units about to jump

Discussion in 'Property Management' started by Scott No Mates, 5th May, 2019.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,248
    Location:
    Sydney or NSW or Australia
    Some of the few things which make units more attractive than standalone houses is that you get more bang for your buck when buying a unit (though you don't get the land), smaller liability for land tax, lower rates and a few other benefits.

    That may all be set to change now that Sutherland Council is putting its case to IPART. A unit will accommodate just as many people as a house of similar proportions, so why shouldn't council charge similar rates as a house (they don't provide any additional services to your lawn, driveways or garages)?

    Will this be a game changer (on top of proposed changes to negative gearing, CGT discount etc depending upon the outcome of the federal election)?
     
  2. Noobieboy

    Noobieboy Well-Known Member

    Joined:
    10th Aug, 2017
    Posts:
    2,172
    Location:
    Utopia
    In a LOT of countries, especially EU, municipal authorities do not distinguish between a house and a unit. It’s either per sqm or number of bedrooms.
    Arguably, Units place as much pressure on infrastructure and council resources as houses.

    I can see their point. Disclosure. I live in a unit.