Aussie homeowners forced to sell as land tax hike hits one state - and it's going to get worse

Aussie homeowners forced to sell as land tax hike hits one state - and it's going to get worse Increasing concern over Victoria's land tax hike One small town being hit harder than most READ MORE: Why Aussies are about to be slugged with higher rents - after annoying tax was increased by more than 250 per cent By PADRAIG COLLINS FOR DAILY MAIL AUSTRALIA Published: 23:35 EST, 10 November 2024 | Updated: 23:35 EST, 10 November 2024 e-mail View comments Concern is growing in Victoria that the state Labor government's land tax hike is forcing homeowners to sell their holiday homes. One of the areas being hit hard is the small town of Bright, 320km north-east of Melbourne , which has a population of just 2,620 and relies on the tourist industry. The picturesque town, which is 319m above sea level, is a base for exploring the Mount Buffalo and Alpine National Parks, ski resorts and wineries.

But the holiday home issue has become so acute, a Reddit post about it was simply titled 'How come there are so many houses for sale in Bright?' 'Rising interest rates, low capital growth and high land tax bills means people are getting rid of surplus properties,' one responder wrote. Zirky Real Estate agent Esther Kay, who handles many of the properties for sale in the area, said a combination of taxes were to blame. 'Apart from the land tax, there's also the vacant property tax or vacant land tax that's coming in January, which is going to have a bigger impact as well,' she said.

Ms Kay said .