Dear Mr Costa,
RE: LAND TAX TOO HIGH _ MUST INVEST INTERSTATE
I am a young single female working hard and investing, so that I can afford to fund my own retirement.
I have purchased 3 investment properties, but on a single income cannot afford to buy my own home.
I would like to purchase another property in NSW but cannot, because I already pay $5234 per year in land tax.
My next purchase must be interstate, as I cannot afford such a high yearly tax.
I wish I could afford the taxes in NSW!! It's a real shame that land tax stops further investment in affordable housing in our state!
If one of my properties could be land tax exempt (claimed as my principal place of residence) I could afford to continue to invest in NSW.
Or reduce the land tax rates!!!