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Latest News

Land Tax – Victoria

 

Land tax is an annual tax based on the total value of land owned in Victoria, whether you own it individually or jointly.

       

It is payable if the total table value of your land holdings is $250,000 or more on the prior 31st December.

The municipal site value, which appears on your council rate notice, is used as the taxable value of the land.

Exemptions from land tax apply where:-

  • principal place of residence, or
  • the land is used for primary production

A valuation objection or an “incorrect owner” objection must be lodged with the State Revenue Office within two months after the service of the assessment.  Successfully objecting against the council valuation, which is advised on the council rate notice, therefore has extra benefit.

 

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