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.”