Victorian Greens-Labor Deal to Triple Vacancy Land Tax for Owners

The Greens believed that raising the vacancy land tax could force thousands of homeowners across the state to offer their unused homes for long-term rentals.

A sale board stands out the front of a property in Melbourne, Australia, on June 17, 2011. Quinn Rooney/Getty Images

Victorian residents who own multiple homes could face a triple vacancy land tax following a deal between the state Labor government and the Green Party.

On Nov. 28, the Greens announced that it had reached an agreement with Labor over a proposal to reform Victoria’s land tax system.