Victorian Land Tax Assessments
Land Tax - State Revenue Office Information
Land tax is an annual tax based on the total taxable value of all the land owned in Victoria, Australia, excluding exempt land such as your home (principal place of residence).
Land Tax is calculated using the site values (determined by the Valuer General Victoria) of all taxable land owned in Victoria, Australia, as at midnight on 31 December of the year preceding the year of assessment.
This means the total value of taxable land owned at midnight on 31 December 2024 will be used to calculate your land tax payable in 2025. From here, land tax assessments are generally issued between January 2025 to July 2025.
The Victorian Government introduced a COVID Debt Repayment Plan as part of the 2023 – 2024 State Budget. From the 2024 land tax year, there has been changes to land tax rates and thresholds which means land tax is payable when the total taxable value of landholdings is $50,000 or more, or $25,000 for trusts. According to the Parliamentary Budget Office this change has meant more than 350,000 land owners were newly liable for land tax, and these temporary changes are legislated to apply until 30 June 2033.
Land Tax Calculators
For your convenience, please see link to State Revenue Office Victoria Land Tax Calculators State Revenue Office Land Tax Calculator
The information is general advice only from the State Revenue Website and you should seek your own independent professional advice.
If you would to understand more about how you may be impacted by recent changes, please reach out to Dominic Monaco for a confidential consultation, even throughout the festive break.
Converge Real Estate
P.O. Box 1027 Collingwood VIC 3066
Ground Floor 71 Gipps St Collingwood VIC 3066
Email: [email protected]
Phone: 1300 023 428 or Dominic directly on 0417 008 754
