Land Tax and Other Legislation (Empty Homes Levy) Amendment Bill 2022

Overview

This bill would have created an empty homes levy in Queensland, charging property owners 5% of the market value of residential properties left vacant for more than six months each year. It was a private member's bill introduced by Greens MP Dr Amy MacMahon during the housing crisis, modelled on Vancouver's Empty Homes Levy. The bill was discharged and did not become law.

Who it affects

Owners of vacant residential properties and undeveloped land would have faced a significant annual levy, while renters stood to benefit from more homes entering the rental market.

Key changes

• A 5% annual levy on the capital improved value of residential land left vacant for more than six months
• Airbnb-style short-term letting would not count as occupation — only long-term tenancies of six months or more would avoid the levy
• Vacant undeveloped land capable of residential use would also attract the levy, discouraging speculative land banking
• Exemptions for recently purchased properties, homes under construction, deceased estates, moves to aged care, wildlife habitat, primary production, and cases the Commissioner considers unfair
• A new capital improved value measure introduced into land valuation law, based on the expected sale price of the property