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VICTORIAN BUSINESSES, INVESTORS BRACE FOR LAND TAX RISES.
MELBOURNE, Feb 1 Asia Pulse - Thousands of Victorian business owners and property investors face massive land tax levels as the Victorian government removes a cap that limited annual land tax increases to 50 per cent.
The move could reignite a major political issue that was defused ahead of the 2006 state election, when the cap was introduced, The Age reported today.
But Treasurer John Lenders said yesterday the cap was temporary and its removal would be offset by other land tax cuts.
"Capping the increase of land tax bills was a transitional measure introduced in 2006 to provide short-term relief for those people whose property values were rapidly rising," Mr Lenders said.
The State Revenue Office will mail about 200,000 land tax assessment notices today to owners of investment properties and businesses.
At least 80 per cent of them would get an assessment that was about the same or smaller than the previous ...
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...excessive federal cigarette and tobacco tax increases. The SCHIP program provides federal...oppose these punitive and excessive tax increases. NATO and its members have alerted customers to the tax increases, faxed thousands of petition pages...
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...state revenues if they prevent tax increases. Supermajority requirements...vote in both chambers to pass tax increases or new taxes. The Arkansas...first, in 1934, to require tax increases to be approved by an extraordinary...
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- Magazine article from: The Bond Buyer Patterson, Dean July 28, 1994 700+ words
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...the General Assembly passed record tax increases. A family that spends $20,000 on...the question now is when do these new tax increases go into effect? It depends on when...constitution, the timing of enacting tax increases and, of course, money. The constitution...
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...total FY 1994 increase. Health-care tax increases, on the other hand, slowed substantially...fewest tax hikes. Looking only at tax increases can be deceptive, however, since...almost 9 percent annually even though tax increases averaged only 1.3 percent. From...