Little relief on land tax

Thousands of Victorian investors who bought inner-city or seaside properties in recent years will not benefit from the Victorian Government's land tax reforms. Three out of four investment property owners won't see a change in their land taxes as tax on investments with total land values between $175,000 and $674,999 will stay the same. Only 24,000 of the 160,000 investors who now pay land tax on investments with a total land value of between $150,000 and $174,999 will pay nothing after July 1, saving $150-$175 a year each.