The proposed tax on property value has generated a buzz in Taupo. Property owners may have to pay 1.5% tax on their first home or investment properties.

• The Opportunity Party proposes that every property owner should pay 1.5% tax on the value of their properties.

• Moreover, property-owning foreign nationals would be charged 3% tax.

• The party’s flagship policy “intends to slash the tax rates on salaries & wages, and ask the owners of assets to pay more” in order to achieve “a fairer tax system”.

• If you have a million dollar house, and you own the whole thing, that’s $15,000 per year, the party leader says.
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