This paper models potential revenue to the Victorian government through a ‘vacancy tax’ on residential properties in metropolitan Melbourne. It does this by:
- Briefly looking at vacancy taxes in the United Kingdom and a proposal from British Columbia. The UK example also examines work by Camden Council to bring vacant properties to market.
- Modelling four scenarios to calculate potential revenue from a vacancy tax levied on vacant residential properties in Melbourne.
- Presenting a preferred model, which Launch Housing estimates could raise $78 million in revenue annually.
- Concluding with a quick overview of the current state of Melbourne’s rental market.
Read the full report here: Vacancy tax Launch Housing modelling PDF
