2019 Land Tax Alert

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If you have recently received your Land Tax Notice and there has been a significant increase in the tax payable, this may be the result of an error in the property value the land tax is calculated on.

Take these two steps to determine if you are affected:

1. Review the council rates notice you received mid last year for the property.

There are two valuation items on a rates notice: the site value and the capital improved value. Land tax is based on the site value.

If the site value and capital improved value are the same, then there is a potential valuation issue. This is the result of clerical errors by councils when updating valuations last year. 

2. Consider whether the site value and capital improved value (if both the same) are reflective of the current market value of the property. 

If both of the above apply to you then you have the right to object to the land tax assessment and have it reassessed.

Please note however, there is a strict time frame for objecting. You only have 60 days from date of your land tax assessment. 

Should you wish to object, we recommend you contact your accountant to confirm details as soon as possible!