Victorian Land Tax

Land tax is levied on the total taxable value of all properties owned within Victoria at 31st of December each year. The value of your home is excluded from the calculation. Land tax is administered by the State Revenue Office (SRO).

Valuations:

  • Provided to the SRO by the municipalities, based upon the municipal property site valuation.
  • Where there has been a change to the property the SRO may use a supplementary valuation.
  • Municipal site valuations are done annually.

Rate of tax

No tax is payable if the taxable value of your landholdings is below $250,000. Above that the land is taxed upon a sliding scale.

Objections:

  • Land tax is still due while you are objecting.
  • You have two month to object from the time you receive you land tax notice.
  • The objection is handled by the relevant municipality and valuer, not the SRO.
  • Interest will be paid on refunds to successful objectors.
  • However, interest is charged on outstanding tax payments, where objectors are unsuccessful.

Joint Ownership of property

  • Where two or more owners hold land in partnership.
  • The "joint owner" is the entity which holds the land.
  • One assessment notice is issued under a unique customer ID, to the "Primary Taxpayer".
  • All members (the secondary taxpayers) are "jointly and severally liable" for the debt. So if all other members do not pay, you will have to pay 100% of the bill.
Further reading

Land Tax Exemptions

Your principle place of residence (home) is exempt.
  • Where you own a two storey building, having a shop at the bottom, and you live on the top floor, there is a proportionate exemption for your residence based upon square meterage.
  • Primary production land is exempt where it is used for agricultural purposes
  • Commercial fishing premises including manufacturing premises
  • Primary production land used for agricultural purposes within the Greater Melbourne area.
  • Not for profits and Charities

Trusts

There are special regulations regarding trusts. Due to the diversity and complexity of trust structures, we suggest that you contact our office in order to get information regarding these rules.

The SRO Website

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Last updated Monday 28th March 2011