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November 15, 2017
The Hon. J.A. DARLEY (15:06): I seek leave to make a brief explanation before asking the Minister for Employment representing the Treasurer a question about the expected 2017-18 land tax revenue.
The Hon. J.A. DARLEY: I understand the Valuer-General is currently undertaking a revaluation of the state's properties. I have been advised that this is necessary because over time property values have become skewed relative to market value, with some areas of South Australia being at market value and others being well below. I understand the revaluation is likely to result in increases of up to 100 per cent in site values for various geographical locations and for certain classes of properties.
I have been contacted by constituents who have recently experienced a 15 per cent increase in site value of residential properties, which in turn has resulted in a 30 per cent increase in land tax this year. My question to the Treasurer is: in the circumstances where there is a dramatic increase in the overall site value across the state, will consideration be given to lowering the land tax scale of rates to avoid a massive increase in land tax revenue?
The Hon. K.J. MAHER (Minister for Employment, Minister for Aboriginal Affairs and Reconciliation, Minister for Manufacturing and Innovation, Minister for Automotive Transformation, Minister for Science and Information Economy) (15:07): I thank the honourable member for his question directed to the Treasurer. I will refer that to the Treasurer and bring back a reply for the honourable member.