New Levies to Apply to Developers and Land Owners in Growth and Strategic Development Areas
The Victorian Planning Minister has introduced legislation to implement a new development levy framework for the state. Developers and land owners in growth and strategic development areas will need to understand the new system of standard and supplementary levies, although much of the detail is still to come. The Bill introduces a new Part 3AB into the Planning and Environment Act 1987 (Vic). The Bill sets out that, in addition to the items covered by section 6, a planning scheme may include one or more infrastructure contributions plans (ICP) for the purposes of levying contributions to fund:
- the provision of works, services and facilities in relation to the development of land in the area to which the ICP applies; and
- the reasonable costs and expenses incurred by the planning authority (excluding the Metropolitan Planning Authority) in preparing the ICP and any strategic plan or precinct structure plan relating to the ICP.
- The levy may consist of either or both a standard levy or a supplementary levy. We will advise you once the legislation has been passed and implemented.