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Article: Land tax costs close Qld caravan parks.(Brief Article)
- Article from:
- Australasian Business Intelligence
- Article date:
- March 28, 2005
- Author:
CopyrightCOPYRIGHT 2005 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Mar 28, 2005 (The Australian Financial Review - ABIX via COMTEX)
High land taxes are forcing Queensland caravan park owners to sell out to developers. Ron Chapman, executive director of the Caravan Parks Association of Queensland, says the problem has intensified over the past three years, as soaring property values translate into significant increases in land tax. Chapman noted on 28 March 2005 that the one developer had recently bought four caravan parks in Cairns. Sydney developer Mijo paid $A9.5 million for the 2.7-hectare Agnes Water beachfront caravan park, and in January 2005 received approval for a $A300 million resort there.
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