Property Tax background information

Find out more about the developments to date in property tax reform, including details about public consultation and economic research.

The NSW Government has enacted legislation to allow first home buyers purchasing properties costing up to $1.5 million to choose between paying an annual property tax instead of stamp duty.

See more details about the First Home Buyer Choice.

This follows an extensive period of public consultation. The Government released a Consultation Paper in November 2020, and a Progress Paper in June 2021. The First Home Buyer Choice builds on the ideas included in those papers, such as the idea of a choice between an annual property tax and stamp duty, different property tax rates for owner-occupied and investment properties, indexation in line with average incomes and a deferral scheme for households unable to meet property tax payments.

The following links provide background information about the consultation and Parliamentary Inquiry processes:

The Property Tax proposal was also informed by economic research conducted by NSW Treasury, including the following:

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