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Legislative Assembly for the ACT: 2018 Week 3 Hansard (22 March) . .

Page.. 1110..


Table 1: The number of properties paying the General Rates fixed charge (2011-12 to 2017-18) 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 ACT residential 136,813 140,657 144,685 150,414 152,551 155,355 158,198 - Units 32,430 34,083 36,329 38,906 41,164 44,035 45,796 - Houses 104,383 106,574 108,356 109,679 110,499 110,417 111,452 Rural 178 174 175 171 168 173 172 Commercial 5,697 5,731 5,784 5,997 6,018 6,033 6,053 Note: Units and houses may not sum to ACT residential due to minor exclusions and reporting variations.

Figures are estimates based on properties in the general rates database and may differ to actual outcomes.

(b) The total amount of revenue generated through the fixed charge, broken down by category, is presented in Table 2 for the years 2011-12 to 2017-18. As the Government does not forecast growth in rateable dwellings, forward estimates by category of dwelling cannot be provided.

Table 2: Fixed charge revenue, by category ($ '000, 2011-12 to 2017-18) 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 ACT residential 75,931 78,065 90,573 101,529 111,362 118,847 121,021 - Units 17,999 18,916 22,742 26,262 30,050 33,687 35,034 - Houses 57,933 59,149 67,831 74,033 80,664 84,469 85,261 Rural 22 22 24 25 25 26 27 Commercial 7,167 6,952 10,116 11,484 12,818 13,484 14,406 Note: Units and houses may not sum to ACT residential due to minor exclusions and reporting variations.

Figures are estimates based on properties in the general rates database and may differ to actual outcomes.

(2) Residential conveyance duty rates for each year since 2011-12, and for the forward estimates period are listed in Table 4 below.

(3) The number of residential property transactions which took place from 2011-12 to 2016-17 is presented in Table 3 below. The Budget and forward estimates of residential conveyance duty take a number of factors into consideration including economic conditions, annual growth in the Wage Price Index and the population, the turnover to stock ratio, house price growth and judgement. As these factors are applied at an aggregate level it is not possible to provide the forecast number of residential property transactions.

Table 3: Number of residential property transactions, 2011-12 to 2016-17 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 Residential property transactions 12,762 11,642 11,891 12,368 13,438 14,107 Source: ACT Revenue Office

(4) The Estimated Resident Population (ERP) data for the ACT can be found on the ABS website (www.abs.gov.au). The relevant ABS catalogue reference is 3101.0, Table 4.

Housing—rates (Question No 1016)

Mr Coe asked the Treasurer, upon notice, on 23 February 2018:

(1) For each year in the current Budget's forward estimates, what (a) are the ratings factors and underlying assumptions for each threshold level of residential and commercial properties, (b) is the estimated number of residential dwellings and (c) is the estimated number of commercial properties.


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