The document summarizes recent changes to property taxes in Queensland's 2019-2020 state budget that are aimed to increase tax revenue but may undermine the state's competitiveness. Specifically: 1. Land tax rates were increased by 0.25-0.75% for commercial landholdings over $5 million. 2. The absentee land tax surcharge was increased from 1.5% to 2% for foreign owners who don't reside in Australia. 3. A new 2% foreign surcharge on land tax was introduced for foreign companies and trusts owning land valued over $350,000. However, industry groups warn that nine increased property taxes since 2016 are cooling investment in Queensland and impacting