Everything is going up in price, so it comes as little surprise that property taxes are too. Rising Annual Value (AV) will apply to most homes across the board; but it’s the higher-end properties that will see the biggest impact. It may also bear consequences for tenants, as landlords may pass down the costs. Here are the possible consequences ahead:

What’s the rise in property taxes like?

For owner-occupied properties, these were the tax rates in 2023:

Annual Value ($)	Effective 1 Jan 2023	Property Tax Payable
First $8,000 Next $22,000	0% 4%	$0 $880
First $30,000 Next $10,000	– 5%	$880 $500
First $40,000 Next $15,000	– 7%	$1,380 $1,050
First $55,000 Next $15,000	– 10%	$2,430 $1,500
First $70,000 Next $15,000	– 14%	$3,930 $2,100

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