Property Tax Policy

"TOP has the courage to introduce a property tax that will deliver affordable housing." - Raf Manji

Summary

To make houses more affordable, TOP will introduce an annual tax on the land value of property.

This will also widen the tax base which will encourage people to diversify their investment into productive assets that will grow the NZ economy, rather than favouring property investment which pushes house prices up for everyone. It will also encourage the productive use of land by imposing a cost on land-banking.

The Problem:

  • Most countries in the OECD tax properties in some way, but New Zealand doesn't. Because of this, we are ranked amongst the most unaffordable in the world.

TOP will

  • Introduce a small annual tax on the land value of a property. This will bring down the cost of housing and rent.

Read more about our housing market reform and building policies below


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Page last updated on 7-May 2022