The Victorian Parliamentary Budget Office's State comparison of land transfer duty and land tax (January 2026) report has found:
- Victoria has the highest property tax revenue to GSP ratio in the nation.
- Victoria's land tax per person in 2025-26 in expected to be $1,047, the highest of any state.
- Victoria's land tax and stamp duty revenue is expected to reach $20.5 billion by 2028-29, up from $6.2 billion in 2014-15.
Since 2014, Labor has introduced or increased 32 property-based taxes and charges as land tax revenue has more than tripled, and stamp duty revenue more than doubled over this same period.
Following a decade of financial mismanagement and waste under Labor, net debt is growing by $1.7 million an hour and is expected to reach a record $192.6 billion by 2028-29.
Leader of the Opposition and Shadow Treasurer, Jess Wilson, said: "Under Labor, dreams of homeownership for young Victorians continue to slip further out of reach.
"Since 2014, land tax has more than tripled, and stamp duty has more than doubled. Every extra dollar raised is pushing up rents, home prices and the cost of investing in new housing stock.
"With Labor's property taxes placing a greater burden on the economy than other states, it should be no wonder why the saying 'anywhere but Melbourne' is running rampant throughout the business community.
Shadow Minister for Housing and Building, David Southwick, said: "The burden of Labor's property taxes is falling on builders, buyers and renters and is making finding a place to call home even more difficult and expensive.
"Labor is killing the dream of home ownership. With around 43 per cent of the cost of a new home swallowed by taxes, fees and levies, they are pricing Victorians out and driving investment interstate. The result is fewer homes, higher prices, and a housing system in crisis."
"Labor cannot manage money, cannot manage housing and Victorians are paying the price."
