If you own a property in Australia, what fees do you pay?

Question

Let's say, a two bedroom apartment in CBD, or near CBD. Or a house, whichever you know the details. Thanks.

Answer 1

For every property you have to pay Council Rates. This goes to the local council and can be from $500 to $4000 a year depending on the unimproved value of the property (the land only, in other words, which is determined by the government every few years).

For expensive properites (but not including your principal residence) you may have to pay Land Tax, which varies from State to State.

If you own an apartment or unit, you will also be liable for Body Corporate  or common property fees,  to pay for upkeep of the common property (the building, grounds, lifts etc) this can be from $20 to $80 or more a week, depending on age and condition of the building.

IF you are thinking of buying, the seller has to tell you  how much these charges are.