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Indeed. And as most would know these days $500,000 worth of land may only be one (or less) property.

A general enquiry for those holding properties (land) in Victoria. Land tax seems to be astronomically high. Here are some rough calculations for an entity that owns the stated amount of land. $500,000 $775 $1,000,000 $2,975 $1,500,000 $6,975 $2,000,000 $11,975 Trusts $500,000...