The Lord Mayor has hit out at the state government after dozens of suburbs joined the “land tax club”. 

Investment property owners are required to pay land tax on properties valued over $600,000.

The state government last week released its renewed list off the back of the property boom, which saw more than 60 south-east suburbs added.

Adrian Schrinner told Neil Breen renters will cop the brunt of the taxes.

“These days, there’s more than 80 suburbs in Brisbane where the median value is $600,000 or more,” he said.

“This is catching now lots of mum and dad investors, as they’re called.

“This is not a tax for the wealthy, this is something that will help drive up rent at a time when we need it the least.”

Press PLAY below to hear the full interview 

State Treasurer Cameron Dick later fired back, claiming the comments were “a massive red herring by the Lord Mayor”.

“He’s absolutely making money hand over fist from ratepayers,” Mr Dick told Neil Breen. “He put up rates in Brisbane 3.75 per cent last year, twice the rate of inflation.

“It’s just ongoing and he’s making huge amounts of money and you know what? In the middle of a pandemic, the bloke made a $500 million budget surplus.

“We’re running deficits for four years to support individuals, families and households; this bloke’s making money out of people.”

Press PLAY below to hear Cameron Dick’s fiery response 

Image: Getty