Council rates raise concern for family rejecting $60m property offer
<p>The Zammit family have refused to sell their 20,000sqm property in Quakers Hill, Sydney for years, but now there are concerns that they may be forced to leave. </p>
<p>Despite being surrounded by thousands of houses, the Zammit family have held out on their prime property location, and even refused a <a href="https://www.oversixty.com.au/finance/money-banking/these-guys-have-held-on-why-a-family-turned-down-50-million-for-their-home" target="_blank" rel="noopener">$50 million offer</a> two years ago, a figure that has now gone up to <a href="https://www.oversixty.com.au/finance/money-banking/aussie-family-s-refusal-to-sell-family-home-could-land-them-a-60m-fortune" target="_blank" rel="noopener">$60 million</a>. </p>
<p>However, amid all the talk of how the family can keep resisting property developers, social media users now believe that authorities may use a sneaky way to force them out. </p>
<p>Many of them believe that the Zammit's will be forced out by rising council rates, which may be increased to a point where the family will no longer be able to afford their home. </p>
<p>"If they don't sell out in time the adjusted council rates will get them out in the end," on commenter said.</p>
<p>"Yep, that's how they will do it! Rezone, then apply higher rates accordingly until they squeeze them out financially," another added. </p>
<p>"Many people I know had their hand forced to sell their dream home in the end due to increases in council rates," a third commented. </p>
<p>All of the land around the Zammit's property have been bought by developers who plan to build a new suburb called The Ponds. </p>
<p>However, the local council has denied that the family may be forced to move. </p>
<p>A Blacktown City Council spokesperson told the<em> Daily Mail </em> that it "has no plans to acquire the property and has not had any negotiations to acquire the property.</p>
<p>"The property rate applied to this property is the same as all surrounding residential properties."</p>
<p>Commenters from around the world have praised the family for choosing to stay put. </p>
<p>"Good on them, why should developers get rich," one wrote.</p>
<p>"Don't bow down to greedy big corp," another added. </p>
<p>House prices in Quakers Hill rose about 8.5 per cent in 2024, according to PropTrack, which means that the family would've earned an extra $4.25 million on top of their previous offers.</p>
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