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The land tax threshold is $250,000 on the total value of all Victorian property owned by a person as at 31 December of each year, and taxed at a progressive rate. The principal residence, primary production land and land used by a charity are exempt from land tax. The threshold is $25,000 and the date of audit is 1 July.
A property bubble is a form of economic bubble normally characterised by a rapid increase in market prices of real property until they reach unsustainable levels relative to incomes and rents, and then decline. Australian house prices rose strongly relative to incomes and rents during the late 1990s and early 2000s; however, from 2003 to 2012 ...
A land value tax ( LVT) is a levy on the value of land without regard to buildings, personal property and other improvements upon it. [1] It is also known as a location value tax, a point valuation tax, a site valuation tax, split rate tax, or a site-value rating . Some economists favor LVT, arguing it does not cause economic inefficiency, and ...
Real-estate bubble. A real-estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs periodically in local or global real estate markets, and it typically follows a land boom. [1] A land boom is a rapid increase in the market price of real property such as housing until they reach ...
Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value for real property (usually market value).Real estate transactions often require appraisals because they occur infrequently and every property is unique (especially their condition, a key factor in valuation), unlike corporate stocks, which are traded daily and are identical (thus a ...
Land is the predominant focus of Western property law, including Australian property law. Legal developments in this field outweigh the development of other forms of property law, this is primarily due to the high value of land in comparison to other forms of property, such as chattels.
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