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Associated Press
15 hours ago
- Business
- Associated Press
Luxury Home and Commercial Owners in McLennan County Face Steep 2025 Valuation Hikes
O'Connor discusses how luxury home and commercial owners in McLennan County face steep 2025 valuation hikes. WACO, TX, UNITED STATES, June 11, 2025 / / -- The McLennan Central Appraisal District (CAD) has released its proposed property tax assessment values for 2025. Both high-value commercial and residential properties are facing significant increases. While the overall rise in residential property values is 3.5%, this figure masks much steeper hikes for certain property owners. Particularly owners of luxury homes, new construction, and properties with larger square footage, which all saw notably higher assessments. This may reflect a strategic move by the appraisal district to raise revenue without heavily impacting lower or middle-income homeowners. Commercial properties followed a similar pattern. With an average increase of 6.9%—nearly double the residential rate—high-value commercial real estate bore the brunt of the reassessment. This suggests that luxury real estate values rose faster than the general market. During the 2025 reassessment in McLennan County, around 28% of homes were found to be overvalued, while 72% were assessed at or below market value. This is encouraging news for the majority of homeowners. However, those with overvalued properties may face disproportionately high tax bills and are at risk of being unfairly taxed. Luxury Value Homes Increase by 14.3% According to the McLennan CAD, in 2025, the most significant value increases were observed in residences with higher or luxury values. For instance, homes valued at $1.5 million or more increased in value by 14.3%, growing from $612 million to $699 million. In contrast, lower-value homes that range between $250,000 to $500,000 grew by 1.9%, rising from $10.5 billion to $11 billion. The graph illustrates that higher-value homes were likely reassessed more aggressively than lower-value homes. In McLennan County, property values per square foot generally rose with home size, with the largest homes seeing the steepest increases. Homes between 2,000 and 3,999 square feet experienced the smallest gain at 2.7%, while those between 6,000 and 7,999 square feet saw a significant 10.9% increase. Homes over 8,000 square feet also rose sharply, with their total assessed value climbing from $160 million to $174 million—an 8.9% increase. According to McLennan CAD, most homes saw minimal increases in assessed value based on their year of construction, except for newly built and undated homes, which experienced significantly higher increases. The lowest value increase was seen in houses built between 2001 to 2020 by 1.0%. Funny enough, houses built in 2021 and later rose in value by 21.7%, which was the highest in value with a construction date assigned. Contemporary homes that were built in 2021 and later grew in market value from $1.5 billion in 2024 to $2 billion in 2025. Homes without an assigned construction date significantly increased by 138.2% in 2025. This could undermine fair property assessments and raise concerns about how values are being calculated without key information like a home's age. 28% of Homeowners Face Unfair Value Assessments in 2025 Based on 2024 house sales prices and the 2025 reassessment of property values, McLennan County overestimated 28% of county residences in 2025. This suggests that 28% of homeowners may face inflated tax bills because their properties were assessed above market value, carrying a larger share of the tax burden. Meanwhile, 72% of the homes were assessed below their market value. While the majority of homeowners benefited from conservative assessments, a significant minority may be unjustly penalized unless they take action to challenge those inflated valuations. High-End Commercial Property Owners Face High Increases An analysis of commercial property tax assessments in McLennan County by value range shows that valuable or high-end property increased the greatest in value. Properties valued at $500,000 or less experienced the lowest increase of 0.2%, growing less than $1 billion from 2024 to 2025 in market value. In comparison, commercial property worth $5 million or more experienced an increase of 11.6% with a 2025 notice market value of $7 billion. For the 2025 tax year, McLennan CAD raised the market values across all categories of commercial properties. The largest increases in value were seen in hotels with 24.4% and apartments with 18.7%. The jump in assessed values may indicate that these properties were previously undervalued, and the appraisal district is now aligning them more closely with current market trends. Land faced the lowest value increase in assessment by 0.8%. McLennan CAD's commercial property assessments for 2025 have increased across all construction years, with a particular emphasis on recently constructed properties. The highest increase in value was seen in commercial property built in 2021 and later with 25.3%, rising greatly from $546 million to $684 million. In contrast, property built before 1960 saw a modest increase of 2.7%. This disparity highlights a market shift favoring newer commercial developments, possibly due to modern amenities, energy efficiency, better locations, or higher investment interest. The Growing Disconnect Between Property Values and Market Data The 2025 commercial property tax reassessment by McLennan CAD stands in sharp contrast to findings from Wall Street firm Green Street Real Estate Advisors. While Green Street reports a 21% decline in commercial property values since their 2022 peak, McLennan CAD indicates a 6.9% increase in those same values over the past year. This divergence highlights a significant discrepancy between local tax assessments and broader market trends. New Apartment Buildings Fall Victim to High Increases The data reveals no consistent pattern between the age of apartment buildings and the rate of increase in 2025 property tax assessments in McLennan County. Despite the mixed trend, noticeably, newer apartment buildings are experiencing high value increases. In particular, apartments built in 2021 and later experienced an increase of 36.6%, growing from $109 million in 2024 to $148 million in 2025. Older apartments built before 1960 saw an increase of 7.3%. Apartment owners in McLennan County experienced a substantial property tax hike in 2025, with the CAD increasing the overall taxable value of apartment buildings by 18.7%. Despite the high increase, one apartment subtype faced a decline in 2025. Multifamily apartments experienced a decline of 67.6%, dropping from $59 million in 2024 to $19 million in 2025. On the other hand, garden apartments increased in value by 21.4%, growing from $2 billion to $2.2 billion in the past year. This contrast reflects changing tenant preferences, shifts in development trends, or differences in location, amenities, or management. Modern Office Buildings Face a Striking 48% Value Increase According to McLennan CAD reports, property tax assessments for 2025 office buildings have increased tremendously for modern or new offices. The greatest value increase was seen in newly constructed office buildings in 2021 and later by 48%, growing in value from $63 million to $93 million in the past year. Older offices experienced very little increases. For example, offices built before 1960 increased in value only by 1.4%. This data paints a picture of the growing inequality in property valuations within the same asset class, driven largely by age, condition, and likely location. In McLennan County, only one office subtype was reported for property tax assessments in 2025. Standard office buildings increased by 4.2%, rising from $2.2 billion to $2.3 billion. Retail Property Value Averaged 4.7% Increase Property tax assessments for retail buildings in McLennan County increased for all years-built categories. Retail properties constructed between 1961 and 1980 saw a slight growth of 0.9%, while those built between 2001 and 2020 experienced a bigger increase of 8.4%. The market value between 2024 and 2025 grew from $1.2 billion to $1.3 billion. There was only one retail subtype reported by McLennan CAD and that property assessment value increased by 4.7%. Recently Built Warehouses Take the Hardest Hit All warehouse property owners in McLennan County witnessed property tax increases, but owners of buildings built in 2021 and later face the greatest strain in 2025. Properties built since 2021 are seeing steeper increases, which implies a possible focus by the appraisal district on newer, likely higher-value or more modernized structures. Warehouses built in 2021 and later increased in value by 36.2%, growing from $203 million to $277 million. In comparison, warehouses built between 1961 and 1980 increased by 1.3%. McLennan CAD assessed the market value of only one warehouse subtype in 2025. Standard warehouses increased by 10% in assessment value. The total market value grew from $1.5 billion in 2024 to $1.7 billion in 2025. McLennan CAD's 2025 Property Revaluation Takeaways The 2025 property reassessment in McLennan County reveals a clear pattern: high-value residential and commercial properties are experiencing the most significant tax increases. While the average residential value rose by 3.5%, owners of luxury homes, larger properties, and new construction saw much steeper hikes. This was mirrored in the commercial sector, where high-value properties faced increases averaging 6.9%. These trends may indicate that the appraisal district may be shifting the tax burden toward higher-end properties. The commercial real estate market appears to be favoring newer assets, possibly due to changing workplace expectations, sustainability standards, or investor preferences. Although 72% of homes were assessed at or below market value—a reassuring figure for most—28% were overvalued, potentially subjecting those property owners to unfair and inflated tax obligations. Consistent Property Appeals Are Your Best Defense Against Rising Taxes Property owners in McLennan County, Texas have the opportunity to successfully appeal their property tax assessments. Whether the property is residential or commercial, the appeals process provides a chance to present evidence that supports a lower valuation. Filing an appeal independently can cause stress and be time-consuming due to its complexity. Partnering with a property tax consulting firm like O'Connor can be highly effective, as the majority of protests result in a reduction. For over 50 years, O'Connor has helped property owners minimize their tax burdens through strategic, cost-effective solutions. About O'Connor: O'Connor is one of the largest property tax consulting firms, representing 185,000 clients in 49 states and Canada, handling about 295,000 protests in 2024, with residential property tax reduction services in Texas, Illinois, Georgia, and New York. O'Connor's possesses the resources and market expertise in the areas of property tax, cost segregation, commercial and residential real estate appraisals. The firm was founded in 1974 and employs a team of 1,000 worldwide. O'Connor's core focus is enriching the lives of property owners through cost effective tax reduction. Property owners interested in assistance appealing their assessment can enroll in O'Connor's Property Tax Protection Program ™. There is no upfront fee, or any fee unless we reduce your property taxes, and easy online enrollment only takes 2 to 3 minutes. Patrick O'Connor, President O'Connor + + +1 713-375-4128 email us here Visit us on social media: LinkedIn Facebook YouTube X Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Associated Press
28-05-2025
- Business
- Associated Press
Tarrant County Commercial Property Tax Values Jump 25% in One Year
O'Connor discusses how the Tarrant County commercial property tax values increased by 25% in just one year. FORT WORTH, TX, UNITED STATES, May 28, 2025 / / -- Only trailing Harris County in total population, Tarrant County is packed with properties of all sizes and varieties. As one half of the burgeoning Dallas-Ft. Worth Metroplex, Tarrant County has some of the fastest-growing communities in Texas. This growth, combined with historic prosperity, has led to a growth in property taxes over the past decade. The Tarrant County Appraisal District (TAD) is in charge of assessing and collecting all taxes. Recent studies have found that at least 19% of Tarrant County residential property was overvalued, and there is a strong possibility that commercial property has been raised into even higher figures. Tarrant County Residential Property Edged Up 1.6% Single-family homes in Tarrant County totaled a staggering $229.09 billion in notice value in 2025. While this value is only a 1.6% improvement over 2024's total, it does represent an expansion of over $3 billion. The biggest growth by a wide margin was for luxury residences, which scored 5.5%. This implies that more properties worth over $1.5 million are being built in Ft. Worth and surrounding areas than ever before. Homes in the price range for the average homeowner, those worth between $250,000 and$500,000, increased a conservative 1.5%. When broken down by size, it is pretty apparent that the value of mammoth homes is increasing at a good clip. For homes over 8,000 square feet, there was a 10.8% increase in value created, or $291.18 million. Homes between 6,000 and 7,999 square feet added $176.12 million, or 3.7%. With a total of $103.28 billion, homes sized between 2,000 and 3,999 square feet were the most valuable in Tarrant County and added to their lead with a jump of 1.5%. Tarrant County got a very strong indicator of the health of their community and the brightness of their future in 2025, as the value of new construction sprang up a dramatic 28.3%. This solidifies homes built between 2021 and the present as already 7% of all residential properties in the county. This is a fantastic illustration of a vibrant and developing community. The biggest chunk of value currently on the books is $83.08 billion for homes built between 2001-2020. Outside of new and recent construction, property values only grew fractions of a percent. While they can also be disputed on grounds of unequal appraisal, the majority of property tax protests involve incorrect valuation of property. Tarrant County shows why it is important to protest your taxes every year, as TAD released information that 19% of all homes were overvalued when it comes to property taxes. This is a marked improvement from 2024, where 44% of homes were overvalued. Hopefully, this indicates that TAD is making progress toward improved accuracy and transparency, rather than continuing to obscure or manipulate data. In another condemnation of TAD's numbers, a study by the MetroTex Association of Realtors suggests that properties in the Metroplex are selling at an increase of only .3%, rather than the 1.6% put forward by TAD. While this might seem like a small difference, it could certainly have implications for the entirety of TAD's data. When combined with the 19% overvaluation for homes and the staggering increase in commercial properties discussed below, it certainly encourages residents to protest their taxes. Taxable Value for Tarrant County Business Increase 25% Resident property values have thankfully stabilized, especially those of working and middle-class people. The same cannot be said for the various businesses and commercial properties around Tarrant County. Commercial property values thundered up a spectacular 25% in 2025. While this could be seen as a good thing in a vacuum, we have already demonstrated that TAD has a problem with overvaluing homes. The biggest increase was seen by the largest businesses, as those worth over $5 million saw their taxable value raised 27.1%. Businesses worth between $1 and $5 million came in second, with a strong 21.3% jump. Even the smallest of businesses saw their value move upwards at 11.1%. Tarrant County added $14.40 billion in business value in 2025, bringing the estimated total to $71.40 billion. These numbers illustrate that business is booming in Tarrant County. When broken down over various industries, it is clear to see that the 25.3% overall improvement is not too lopsided. The biggest grower was the hotel industry, which added 43.3% to their value, an amazing jump. That was only a gain in percentage, as impressive as it was. The biggest jump in total hard value was in apartments. Already the most valuable of commercial properties, apartments added $8.16 billion, or 25.3%. Though not to the same degree, all recorded industries made out like bandits, with even the lowest land gaining a superb 14.3%. These gaudy numbers should be reexamined, making them perfect for a detailed property tax appeal. Tarrant County paradoxically saw massive jumps in the value of the oldest and the newest commercial properties, with 33.3% and 60.8% respectively. This certainly illustrates a strong demand for business and other such buildings. But while this dichotomy looks good on a graph, the true drivers of commerce are buildings built between 1981 and 2020. Representing 36% of all of Tarrant County's commercial worth, properties constructed between 2000 and 2020 were able to add 18.6% more. Those built between 1981 and 2000 had the best of both worlds, surging 23.4% while also maintaining second place in total worth. While we have seen several graphs that appear to be good news for businesses, there comes one of the biggest monkey wrenches. There is the possibility that these numbers have been pumped by TAD. According to leading commercial property firm Green Street Real Estate, the nation's commercial property lost 21% of value in 2025. This is due to a variety of market factors, including interest rates and difficulty in borrowing money. Considering the stark disparity between a 21% loss and a 25.3% gain, it is not out of the realm of possibility that the true number is hidden in the massive gray area. This is a textbook situation to deploy a property tax protest, as the potential savings are so high that it would be criminal to pass it up. Apartments Gain 25% in 2025 The biggest commercial property type in Tarrant County is currently apartments and other multi-family homes. This is only set to expand as more people move into the DFW metroplex, along with skyrocketing property values pushing up prices for every piece of living space. This demand can be seen in how quickly new and recent construction of apartments has staked a major market share. Currently, 13% of all apartment value was constructed from 2021 or later, and this portion of the market is gaining by leaps and bounds. The largest apartment type by far in Tarrant County is low-rise. These were valued at $38.14 billion, 93.9% of the total apartment value. Low-rise apartments even gained over 24.4% more value in 2025. While all types of apartments saw huge jumps in value, senior living were the biggest risers with 50.6%. High-rise apartments were the second-most valuable type, and grew at a strong 34.7%. Tarrant County Offices Worth Over $10 Billion Now out of the pandemic's shadow, the demand for offices is again on the rise. Appraised at a combined worth of $10.78 billion, offices also soared in value by 19.1%. With no regard for age, all eras of apartment construction improved their worth. The smallest increase was seen for those built between 2002 and 2020, with 13.5%, though buildings constructed in this period make up the majority of apartment property as a whole. The two biggest increases were seen with the oldest and newest offices, an illustration of new construction and renovation both gaining steam in Tarrant County. Just like the age of construction, offices of all types and categories increased their worth in 2025. The majority of assessed value is in low-rise buildings, with $4.76 billion. High-rise and medical offices were not far behind, with $3.57 billion and $2.45 billion respectively. High-rise office buildings were able to land an increase of 21.3%. Retail is another set of commercial properties that are making an impressive rebound after a few years of a downturn. Retail properties expanded 31.1% across the board, scoring a total value of $9.30 billion. Like offices, the trend of refurbishment and new construction continues, as buildings constructed before 1961 and those after 2021 saw growth of 40.7% and 61.9% respectively. Retail spaces built between 1981 and 2021 still account for a combined 67% of the value. Shopping centers of all sorts seem to be back in a big way. Combining for an assessed value of $6.48 billion, community and neighborhood shopping centers also saw respective growths of 29.4% and 25.9%. Malls experienced a notable resurgence in 2025, soaring in value by 69.8%. General retail spaces were also able to jump up by 26.9%. Retail combined value surged to $9.30 billion. Warehouses are often cited as being recession-proof, and even with some economic woes, this adage proved true in 2025. Warehouse value rose a combined 18%, achieving a worth of $1.53 billion. Again, new construction and the renovation of older buildings were two of the driving forces in this rebound. Buildings constructed after 2021 already account for 13% of all warehouse value and added 23.1% in 2025. Most value is still held by those built between 1981 and 2020, but it seems that the new economic tide is rising all boats when it comes to warehouses. Putting it All Together When we aggregate all of this information and try to read the tea leaves, it is obvious that commercial properties are the story for Tarrant County in 2025. All business properties combined for a growth rate of 25%. If we were looking at income or an increase in market share with that number, then we would know that Tarrant County's economy is going strongly. But, to throw some cold water on the situation, it should be reinforced that these numbers come from TAD. They have a vested interest in raising the tax base and commercial properties are individually the juiciest of prizes to be taxed. There is a way for both home and business owners to turn this in their favor. Property tax protests allow residents to have their property reassessed. Remember that TAD does not appraise businesses individually, but uses historical data, mass appraisals, and computer models to estimate what a property is worth. A property tax appeal can cut through the illusions and get to the hard facts of property values. This is even more important for businesses, as so much money can be on the line for every valuation. While tax rates cannot be lowered, a smaller valuation means a smaller tax bill. Businesses also tend to protest their taxes annually, as it is an easy form of cost reputation. O'Connor specializes in property tax appeals. In fact, we are one of the largest firms that focuses on it. Let us run your property tax appeal process for you. We will do so annually, building on each year's evidence and savings to bring about better outcomes in the future. About O'Connor: O'Connor is one of the largest property tax consulting firms, representing 185,000 clients in 49 states and Canada, handling about 295,000 protests in 2024, with residential property tax reduction services in Texas, Illinois, Georgia, and New York. O'Connor's possesses the resources and market expertise in the areas of property tax, cost segregation, commercial and residential real estate appraisals. The firm was founded in 1974 and employs a team of 1,000 worldwide. O'Connor's core focus is enriching the lives of property owners through cost effective tax reduction. Property owners interested in assistance appealing their assessment can enroll in O'Connor's Property Tax Protection Program ™. There is no upfront fee, or any fee unless we reduce your property taxes, and easy online enrollment only takes 2 to 3 minutes. Patrick O'Connor, President O'Connor + + +1 713-375-4128 email us here Visit us on social media: LinkedIn Facebook YouTube X Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Bloomberg
28-05-2025
- Business
- Bloomberg
UBS to Sell Hedge Fund Unit O'Connor to Cantor Fitzgerald
UBS Group AG 's asset management division has signed an agreement to sell its O'Connor unit to Cantor Fitzgerald, it said in a statement on Wednesday that confirmed a Bloomberg News report from earlier this month. Closing of the transaction for the 'single manager hedge fund, private credit and commodities platform' is expected during the fourth quarter and is subject to regulatory approvals, UBS said in the statement. The deal includes 'O'Connor's six investment strategies' with about $11 billion in assets under management.
Reuters
28-05-2025
- Business
- Reuters
Cantor Fitzgerald to buy UBS hedge fund unit
May 28 (Reuters) - U.S. brokerage firm Cantor Fitzgerald said on Wednesday it will buy Swiss lender UBS' (UBSG.S), opens new tab hedge fund unit O'Connor. The terms of the deal were not disclosed. Cantor Fitzgerald did not immediately respond to a Reuters request for comment.
Daily Mail
24-05-2025
- Politics
- Daily Mail
EXCLUSIVE Australia decisively voted for Albo... But this is the extraordinary list of suburbs that went the OTHER way and voted for 'Prime Minister Peter Dutton'
It was an electoral humiliation the likes of which has rarely been seen in Australian political history. And, of course, Peter Dutton suffered the final indignity of losing his own seat of Dickson, which he had held since 2001, to Labor. But, as the new Liberal leader Sussan Ley surveys the charred ruins of her party and attempts to mend the fractured Coalition, she could see some small slivers of hope. There were swings towards the Coalition in 14 seats across the country, with the largest coming in the seat of O'Connor in WA's southern Wheatbelt where Rick Wilson experienced a 6.5 per cent swing. Much has been made of the Coalition's unpopular nuclear energy policy, with many commentators blaming it for their loss. But Wilson, who prides himself 'on being an MP that is present throughout the term', points to his success in Collie, one of the Coalition's seven proposed sites for the nuclear reactors, as evidence that some communities actually strongly favoured it. In one booth in Collie he recorded a two-candidate preferred swing of over 19 per cent. 'The electorate of O'Connor I think had a positive response to our nuclear energy proposal,' he told Daily Mail Australia. 'I think the Collie people are recognising that 2029 isn't that far away and the promises from the Labor government and their renewable energy strategy are not leading to more jobs in the Collie community.' Wilson, 59, also pointed to the live export ban as a reason for his surge in support. 'The majority of the sheep live exported from WA come from my electorate. The live sheep export ban will have a significant impact on the farming sector and the businesses which support it,' he said. 'The truck drivers, shearers and the broader community will be impacted by that incredibly poor policy and that was certainly a big concern in my electorate.' But he remained tight-lipped on the lessons the wider Liberal party could learn from his success. 'The Liberal party will undertake a review of the campaign, as we do after every election,' he said. 'We clearly have some things to work on and improve, but we will wait for the outcome of the review first.' Someone not so tight-lipped about their success was Tim Wilson who, despite a nail-biting count, recorded a 3.3 per cent swing towards him in a state that overall went against the Liberal party. In his victory speech, he praised the 'genuine community-connected campaign' he ran this time around after he was ousted by Teal Zoe Daniel in 2022. 'We very much built it from the bottom up, and I think there are a lot of lessons for a recovering Liberal party for how it wants to take on the future of the country,' he said. Daniel Wild, deputy executive director of the Institute of Public Affairs (IPA) think tank, said that the strong performances from Andrew Hastie in Canning, Rick Wilson, and Tim Wilson were largely 'driven by their local leadership, work ethic, and personal brand in their respective communities'. Mr Wild took leave from the IPA to stand as a Liberal candidate in the South Australian seat of Spence where he recorded the state's smallest swing to Labor, not counting the independent-held Adelaide Hills seat of Mayo. He argued that the Coalition's 'mammoth defeat' has brought it to an existential crossroads, where the Liberal Party 'needs to decide if it is going to be a party which represents the inner-cities, or outer-metropolitan Australia'. 'The two constituencies now have dramatically different lived experiences and social values, and simply cannot be represented by the one political party,' Mr Wild said. 'John Howard's conceptualisation of the Liberal Party as a 'broad church' worked in part because of Howard's masterful and visionary leadership. 'Also, because the Liberal Party used to have a set of unifying principles and beliefs, which it no longer appears to have.' But Mr Wild said that this 'broad church' concept no longer held true because of the seismic demographic and social changes across Australia. 'At both the 2022 and 2025 elections, the Liberal Party took to the electorate the policy of net zero emissions by 2050, in large part to woo well-off inner-city Teal voters,' he added. 'This experiment not only failed, but was catastrophic politically, because, in addition to failing to win sufficient Teal voters, it also alienated outer-suburban voters who value energy affordability over emission reductions.' It is a point echoed by Nationals MP Colin Boyce who recorded the second-largest swing in support for any Coalition MP after Rick Wilson. 'The whole election campaign was centred around trying to beat the teals – out teal the teals – and deserting what was middle Australia, who live in suburban metropolitan (electorates),' Boyce told the Australian Financial Review. The central Queensland MP claimed that the prioritisation of inner-city concerns was pushing voters towards other right-wing parties such as Pauline Hanson's One Nation and Clive Palmer's Trumpet of Patriots. 'They're all our people, and they're just fed up with this metropolitan-centric point of view being continually jammed down their throat,' he added. On the NSW mid-north coast, Nationals MP Pat Conaghan had a small 0.1 per cent swing to him as a faced a second challenge from Climate 200-backed independent Caz Heise in Cowper, stretching from Port Macquarie to Coffs Harbour. There are also still pockets of outer suburbia where the Liberal Party performed well - in contrast to areas where Liberal candidates used to be a shoo-in. Sydney 's north shore was long regarded as blue ribbon Liberal territory but polling booths in wealthy areas along the Lane Cove River overwhelmingly voted Labor - turning Bennelong into a safe Labor seat. Anthony Albanese 's Labor Party won 69 per cent of the two-party vote at Greenwich on the water, where voters of Chinese ancestry are higher than the national average. The ethnically-diverse western suburbs of Sydney are regarded as traditional Labor Party territory. But, just a short drive from Penrith, the Liberal Party won 75 per cent of the vote after preferences at Mulgoa, which was higher than its vote share at very rich polling booths like Cronulla (59 per cent), Dural (66 per cent) or Vaucluse (65 per cent). In this part of western Sydney, people are much more likely to either be Australian-born or have English, Irish or Scottish heritage. Liberal Party MP Melissa McIntosh kept the seat of Lindsay, holding it with 53 per cent of the two-party vote, making it one of just five electorates in Sydney to stay with the Opposition. McIntosh, who held on despite a 2.9 per cent swing to Labor, has been credited with running a highly effective, 'hyperlocal' campaign. But within this electorate, away from urban centres, the Liberal Party won 56 per cent of the primary vote at Mulgoa, translating into three-quarters of the vote after preferences in an area where locals live on large acreages. Diane Beamer, a former state Labor MP for Mulgoa who used to live on a five-hectare property, said Lindsay stayed with the Liberal Party because it had a higher proportion of Anglo-Celtic voters than the national average who were also more likely to run a small business. 'In Lindsay, its ancestry is or it describes itself as Australian, English, Irish or Scottish,' she told this publication. 'It is more Anglo - if you look at the profile of the seat, it really is tradies, small business people - there's a natural alliance there for some time. 'I don't see the Labor Party as connecting with the small business people of Lindsay.' Beamer, a former state government minister who ran unsuccessfully as Labor's Lindsay candidate in 2019, said voters in these areas were often successful people who had left working class areas of western Sydney, like Mount Druitt. 'Why is it hard to win Lindsay? Certainly, it is more aspirational than any other place I've been,' she said. '(People think): "I have left Mount Druitt, I have left Tregear, Bidwill - I have left those areas, I've got my nice house, I've got my business, and I don't want you to get in the way of my life. Just get lost - I want smaller government, I want you to go away".' Voters living on large, rural-style acreages were also more likely to be high-income voters who were also more religiously Christian. 'That's what I would call rural residential - now it has 25-acre minimums,' she said. 'It's where you find your oncologists and doctors from all over the place - it's the only place where the P&C has met to discuss what kind of books are in the library, and banning books. 'There was quite a strong Christian lobby.' Successful people living on large blocks in places like Mulgoa, Londonderry, Berkshire Park and Orchard Hills - where the Liberal Party had 70 per cent of the two-party vote - were previously working class people who wanted lower taxes. 'You've moved beyond it - "We've got our small business, we want a lower taxing, bigger tax break kind of government",' Beamer said.
