DescriptionLand tax is an annual tax levied on the unimproved value of land in Victoria. This video explains the 2018 land tax assessment, including how land tax is calculated, when you need to pay, the assessment notice and statement of lands, exemptions, surcharges, objections and how to correct errors and omissions.
Land tax is an annual tax, levied on the site value of land in Victoria. You have to pay land tax when the site value of all the taxable properties you own exceeds a $250,000 threshold.
Land tax is based on the land you own at midnight on 31 December. Your 2018 assessment is based on the taxable land you own at midnight on 31 December 2017. There are a range of exemptions from land tax, including for your home and your farm. Find out more at sro.vic.gov.au/landtaxexemptions.
In order to calculate land tax we use site valuations. The site value is the taxable value of your property. If you disagree with a site valuation shown on your assessment you have two months to object. You can do this by completing and submitting the valuation objection form on our website.
Your statement of lands should list all the properties you owned at midnight on 31 December 2017. The taxable value of each property will be shown, and any exemptions and surcharges.
If you dispose of property during 2018 it will be removed from your assessment next year. If you are an absentee owner there is a surcharge on your land tax assessment. More information about the absentee owner surcharge is at sro.vic.gov.au/aos
Land held on trust may also attract a trust surcharge. With more information available at sro.vic.gov.au/landtaxtrusts.
If you own land with others, you are a joint owner of land. We assess for land tax in a different way. We assess each unique combination of joint owners together in a joint ownership assessment, before assessing each owner individually. Land you own together may appear on both your individual and joint assessments. Find out more at sro.vic.gov.au/jointowners.
If there are any errors or omissions in your land tax assessment, such as land that you own that is missing, land you don’t own being listed, or land that is exempt from land tax – call us on 13 21 61.
If you have any further questions about land tax please visit sro.vic.gov.au/landtax.