Inner-north residents will pay the biggest increases in rates from July, reflecting the fast-rising property values in the area.
The government has announced a 9 per cent average rates rise from July 1, which will add $150 to the average rates bill, bringing it to $1820. But the impact on people's individual rates bills depends on their property values, averaged over three years.
The impact is biggest in Downer, where households will face an average $260 increase, almost 13 per cent, with an average rates bill in the suburb of $2320. Similarly, Turner, O'Connor and Ainslie residents will face rises of more than 10 per cent.
At the other end of the scale, householders in some suburbs of Belconnen, Woden and Tuggeranong will see their rates rise by under 8 per cent, again reflecting lower property values in those suburbs.
The impact of rates changes has been kept relatively stable this year, ranging from averages of 7 per cent to 12.6 per cent extra, depending on suburb.
For the owner of a home with an unimproved (or land) value of $300,000, the rates bill is $1720. If your unimproved value is $500,000, your rates bill will be $2680.
Rates have increased about 10 per cent in each of the past two years. In a clear sign the increases will continue at near that rate into the foreseeable future, the forward estimates factor in overall revenue increases from rates of 10 per cent in 2016-17, then 9 per cent in each of the two following years.
Owners of rental and investment properties faced a big hike in rates last year, with the introduction of a fixed charge to the calculation of land tax, which they must pay. This year, the fixed charge has been increased from $900 to $945.
Commercial properties face the same average rises as homeowners, of 9 per cent.
The government's overall revenue from rates (including new properties) is set to rise 11 per cent, to $420 million, surpassing payroll tax as the single biggest territory tax. Payroll tax, levied on businesses according to the size of their payroll, is set to bring in $402 million in 2015-16.
For people buying a home, the picture is more rosy (except for first home buyers, for whom the grant of $12,500 is being cut to $7000 over 18 months).
Stamp duty continues to come down, albeit relatively slowly, cut $1200 for most home buyers.
If you're buying a $500,000 home, you'll pay $14,600 in stamp duty, a saving of $5900 since the tax changes began three years ago.
For a $750,000 home, stamp duty is now $27,100, ($7775 less than three years ago) and for a house worth $1 million, the stamp duty is $43,350, $5900 less than three years ago.
Despite the reductions, the government will collect more money in stamp duty in the coming year than in 2014-15. The budget shows $229 million in stamp duty in 2015-16, up $9 million on 2014-15.
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