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The Land Value Sharing (LVS) & Urban Development Zones (UDZ) Bill
Land Value Sharing Bill to Challenge Residential Viability
April 27, 2023 10 Minute Read
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Last week saw the publication of another Draft Bill by the government in relation to Land Value Sharing. This follows a series of bills on land value sharing and urban development zones published since 2021 to support the Housing for All Plan. The main objective of the Bill was to allow for the state to capture a greater portion of land value increase where lands are zoned for residential development or to be subject to the Urban Development Zone (UDZ) designation. This was proposed to replace existing development contributions and to facilitate the capital cost of providing key infrastructure for future residential development.