Page 1110 - Week 03 - Thursday, 22 March 2018
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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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