Special land tax is a one-off tax charged in certain circumstances where land that has been exempt from land tax is no longer exempt.
It is charged at a rate of 5.0% of the taxable value (site value) of the land and is imposed on the date that the land ceases to be exempt.
If you are an absentee owner, you will be charged either:
- 7.0% if the land ceased to be exempt from 2020,
- 6.5% if the land ceased to be exempt from 2017, and
- 5.5% if the land ceased to be exempt in 2016.