- This topic has 6 replies, 5 voices, and was last updated 9 years, 5 months ago by .
-
Topic
-
They say you don’t own the view from your apartment but a scheme has been launched today to allow apartment blocks to register their vistas … provided they are prepared to pay tax on them.
The new “Protected View Tax” will for the first time allow apartment owners corporations to lock off their views so that they can’t be build out.
However, to do so they will have to have the value of the view assessed and then individual owners will be taxed on that.
“It’s really quite simple,” said Paolo Fril of the Joint Operation for the Known Environment. “We know that apartments with a fabulous view of, say, the harbour or the Opera House command much higher prices than those that are looking straight into another building.
“And we know the people in those fortunate apartment blocks will put all sorts of obstacles in developers’ and locals councils’ way to avoid being built out.
“So all we do is add up the increased value that the view brings to their properties and tax them on that.”
Click Here for an important announcement
on the proposed Protected View Tax
He said he expected a backlash initially but believed when people saw the chance to guarantee their view for the life of their building, they would embrace it.
“We’re saying, OK, you want the view forever? Then you pay to keep it. But if you don’t want to pay for it, then the people who build in front of you will.”
Mr Fril said unit blocks on the seafront or harbourside that couldn’t be built out anyway will be exempt. However, they would be expected to “share” their views by other means.
“The first project funded by the Protected View Tax will be a walkway around the Harbour that will, where necessary, be built on the shore where it has been cut off to public access by private housing.”
If you want to be alerted when anyone replies to your posts or responds to this topic, please register and login, then you will be able to subscribe to the topic. The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers. NB: Longer threads may spill over to additional pages - look for the numbers on the bottom right, under the last post.
-
Replies
-
Frankly, despite it being a joke, it’s not a bad idea. It’s like companies profiting from exporting Australian natural resources – something should go back to the ciountry. Similarly, if you are going to enjoy the natural beauty of the view, to the exclusion of others, perhaps you should pay, Mostly I just want to be on the committee that rates the views to determine the rate of tax!
Sydney is becoming more and more like NYC! Everything has a monetary value, even air. The Sydney ” view tax” model is far more fraught and uncertain than the NYC “air rights ownership” model though.
In NYC there are “air rights”. Air rights generally refer to the empty space above a property. But what happens when a building is only six stories high when it could potentially be 32 based on its zoning? This is referred to as a building’s “unused potential”. A nearby building or development could tap into that potential by buying the “underbuilt” air space and using it to provide both light and views to add value to their own building or development.
https://www.nytimes.com/2013/02/24/realestate/the-great-race-for-manhattan-air-rights.html
Scott B wrote:
Pay tax the protect your view is horse hockey
This would have to be registered somehow with the council so a DA cannot be approved to be built in you view area
If there is no form of agreement with the council it will just plead ignorance and you will have to do a challenge in court
This is very familiar to insurance they will take the money and who are you going to complain to…………………..
Bs to me
“You don’t own your view” is most frequently and emphatically pointed out by those who plan to block it — most likely with a taller development — and exploit what they have turned into “their” view for their own enjoyment or onselling at a handsome profit.