Property owners should update LPT but now must also consider VHT
This year, property owners must consider the new Vacant Homes Tax (VHT). Picture: iStock
Personally, I think there are far too many acronyms in this world but alas we get to add VHT to the mix.
No, it's not an obscure bandwidth for scanning on your television but rather stands for Vacant Homes Tax. Back to basics first, the reference date for Local Property Tax for the year 2024 is upon us. Those who own a residential property or who have a life interest in such a property are liable for Local Property Tax if they owned the property on November 1, 2023.
