Site Search
Overview
What is land tax?
Land tax is an annual tax levied on the owners of land in Victoria as at midnight on 31 December of the year preceding the year of assessment (i.e. 2012 assessment is based on land holdings at 31 December 2011).
In general, your principal place of residence (your home) or land used for primary production (a farm) is exempt from land tax.
You may be liable for land tax if you own:
- vacant land, including vacant rural land
- a holiday house
- one or more investment properties, or
- some primary production land that is not exempt due to its location close to a city.
Land tax is assessed on a calendar year basis.
Land Tax assessment notices are mailed out to you between February and late May each year.
Do I have to pay it?
Generally if your land holdings have a total taxable value of $250,000 ($25,000 for trusts subject to surcharge) or more (excluding exempt land) you must pay land tax.
There are exceptions for trusts. Please refer to the Trusts page for further information.
What is the taxable value of land?
It is the site value provided by the relevant municipality and forms the basis on your land tax calculation.
Municipal councils conduct general valuations for land in their municipality every two years.
Exemptions from Land Tax
Exempt land such as land used for primary production (i.e. your farm) or an individual's principal place of residence (i.e. your home) and other exemptions are excluded from the calculation.
How is land tax calculated?
It is calculated by selecting the appropriate tax rate from the table showing the scale of tax rates and applying this figure to the total taxable value of all land you own, excluding any exempt land.
What if I think the details on my assessment are incorrect?
Changing your details is simple. If you wish to update your postal address, or if the assessment is incorrect because it contains land which you did not own as at 31 December:
- log onto LTX Express on the SRO website
- fill in the Land Tax Amendment form
- contact the SRO on 13 21 61 to make changes over the phone (some restrictions apply).
If you own additional property that is not included in your assessment or you are receiving an exemption to which you are not eligible, you must notify the SRO within 60 days from the day your assessment is issued. If you do not, you may be liable for penalty tax.
Further information on this requirement
Can I object to my assessment?
If you think that you have been assessed incorrectly then you can object to the assessment.