LAND valuations have been raised to abnormal levels. The consequences will have considerable impact for both land owners and renters. It will affect residential and retail customers. In my view, it appears to be another level of extortion. We will not see the full effect for about another two years. However, I believe the reality will be a doubling of land tax, with a considerable flow-on impact on land rates and insurances. It will simply have to be passed on. Therefore, the notion of no new taxes is simply a myth. The push to hold the cost of rental increase for landlords seems extreme in my view.
