The Territory Labor Government is investing in local jobs, boosting our population and revitalising the CBD.
From 1 July 2019, a Derelict and Vacant Property Levy will be brought in to encourage the revitalisation of the Darwin CBD through innovative land use.
Key components of the levy are:
A rate of 1% will be levied on commercial buildings with street frontage that is largely vacant
A rate of 2% will be levied on undeveloped land, based on the unimproved capital value
The levy applies to commercial premises only not residential.
The levy complements the Territory Labor Governments plan to revitalise the CBD into a greener, cooler, more modern and attractive place to visit.
From heat mitigation, leasing arrangements, artwork or attractive landscaping, there is range of initiatives that property owners can undertake to improve their sites and the look of our CBD.
To view details of the levy and zoning visit: https://revitalisingdarwin.nt.gov.au/vacant-and-derelict-property-levy
As noted by Treasurer Nicole Manison
We are unlocking the CBDs potential as an attractive, bustling and connected capital to drive population growth, create more jobs and make Darwin a fantastic place to live, work and visit.
From street art, boutique markets, laneway festivals and heat mitigation, the Territory Labor Government is doing everything it can to make the CBD a more inviting place for shoppers, diners and tourists.
People are sick of seeing eyesores in our city so to complement our own initiatives, a Derelict and Vacant Property Levy will be introduced to further stimulate revitalisation and activation.
This is a chance for property owners to work with Government to improve our CBD.
Let me be clear, this is the one revenue measure with which we dont want to raise a single dollar. This is about activating the CBD to drive more foot traffic through our streets and into our businesses.
