The ACT has a unique law regarding change of zoning for your property and any uplift in market value.
Any windfall that occurs because of the stroke of a pen for the land’s zoning is distributed 75 percent to the government and 25 percent to the owner of the property.
What a refreshing way to deal with development.
This takes away all the fuel of lobbyists trying to have their land rezoned to capture the extra squillions from it.
The legislation also allows the government to have a long term sustainable outlook on development, where it is appropriate and what needs permanent environmental protection.
It also provides the ACT with the funds required to build the light rail, keep their schools and hospitals fully funded as well as the myriad of other social and environmental projects.
Imagine what we could have and how the government could freely operate in NSW if they too would adopt this law.
Let’s help our governments find their way again to provide for the public by having enough funds to be able to do so without continually squeezing its citizenry by increasing fees and charges.
Email, Oct 24
Susan Wynn, Mannering Park