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Land Tax

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    Land Tax

    All landholders pay council rates and land tax can be payable when more than one property is owned but excludes the family home or primary place of residence. The basis for calculating both council rates and land tax is a land value determined by the Valuer General.

    The only way to reduce land tax and council rates is to reduce the land value. Every landowner is entitled, at no cost, to object to their land value but must provide a reason for the objection. The process of lodging an objection can be tedious and time consuming and may not be accepted if insufficient evidence for the objection is provided by the landowner.

    Local Valuers Australia offers to prepare a land value objection on behalf of an owner with sufficient justification to have the objection accepted. If the property owner is land tax liable the current year plus the previous two years will be included in the objection as the issued land value for land tax is based on the average of the last 3 years. Once accepted, The Valuer Generals office will appoint an independent valuation contractor to review the land values. The Government pays that valuer.

    The biggest potential gain is for properties with a significant land value where a reduction of even a small percentage will result in a significant saving in council rates and land tax. If the review reduces any of the 3 years land values, the land tax amount will be recalculated and the difference refunded to the landowner plus interest.

    Council rates are based on the issued land value for each year and calculated on a rate per dollar. Additional charges such as a waste levy may also apply. Based on the land value of $1,500,000 in the example above for a property in Glebe, the council rate excluding any other charges would be $1,975. If the land value was reduced on objection to $1,400,000 the council rate would be $1,827. This would be an annual benefit.

    Land Tax notices are issued from January of each year.

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