OECD calls for bigger property tax take

OECD calls for bigger property tax take
OECD chief economist Laurence Boone at its Economic Outlook. Pic: Getty

The OECD lowered its growth forecast for the world economy this year from 3.3 per cent to 3.2 per cent, mainly due to the effect of trade tensions on trade levels and investment

The OECD has urged the government to increase the take from property tax through more regular revaluations. The values on which the tax is based have not changed since its introduction and the government has postponed the revaluation of homes for another year.

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