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Sydney

Greens say no deal with Labor, promise huge rates hike on vacant homes

There will be no formal coalition between Labor and the Greens at the next Brisbane City Council election, Greens’ mayoral candidate Jonathan Sriranganathan has declared.

He made the comments while releasing a policy where landlords of investment properties vacant for more than six months would pay 20 times their current annual rates.

Greens mayoral candidate Jonathan Sriranganathan said investment properties vacant for more than six months would be charged 20 times the current rates to force landlords to rent or sell empty homes.Credit: Felicity Caldwell

The current administration, led by Lord Mayor Adrian Schrinner, has repeatedly warned voters the 2024 election will be a contest between Schrinner’s Liberal National Party team and a Labor-Greens “coalition of crisis”.

However, Sriranganathan – formerly the West End-based councillor for the Gabba Ward – said there was no formal Greens and Labor coalition, and he doubted there would be any preference exchange.

The Greens say their property policy would compel investors to rent or sell up to 15,000 investment properties during the ongoing housing crisis, rather than pay higher rates.

“So an inner-city investment unit that ordinarily attracts a rates bill of $1500 per year would pay a vacancy levy of $30 000 if left empty for more than six months without a good reason,” he said.

The Greens proposed vacancy levy

  • Applies to an investment property left empty continuously for more than 6 months
  • Does not apply to owner -occupier buildings
  • Applies to houses, apartments, vacant land, and commercial buildings
  • Investment properties would be charged 20 times the standard rate for the property

Valid exemptions

  • If the property ownership changed or an owner passed away in the past six months
  • If a new dwelling is being built on the property, or it is being renovated
  • If it has been impacted by a natural disaster,  or used as nature reserve

“In a context where no party wins enough wards to command a majority, the Greens would be negotiating across party lines on a ‘policy by policy’ basis, rather than entering into a formal coalition agreement,” Sriranganathan said.

While Labor has promised an audit of vacant properties, it will consult on the policy response.

https://www.brisbanetimes.com.au/national/queensland/greens-say-no-deal-with-labor-promise-huge-rates-hike-on-vacant-homes-20231026-p5ef8r.html?ref=rss&utm_medium=rss&utm_source=rss_national Greens say no deal with Labor, promise huge rates hike on vacant homes

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