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NSW Land Tax 2014

So what is NSW Land Tax and how is it calculated?

Land tax is calculated on the value of the land only, it does not consider the value of your house or any other structures. The threshold for Land Tax is rated at least once every 4 years.
The Office of State Revenue will issue Land Tax assessments for any investment over a certain value every 12 months.

For 2014, if you own a property that is not your principal place of residency or is not land used for primary production, you may be liable for land tax if the total value of that land exceeds $412,000.

How does the Valuer General value my land?

According to the NSW Valuer General they consider the following 7 facts:

  1. Property market conditions as at 1 July that year
  2. Most valuable use for the land
  3. Location of the land
  4. Constraints on use such as zoning and heritage restrictions 
  5. Land size, shape and other features such as slope and soil type 
  6. Nearby development and infrastructure 
  7. Views 

Is there any good news?

Let's be honest, when it comes to the TAX, there is never good news.

However, by paying the TAX in one instalment, you may benefit from a small discount as apposed to paying it over 3 instalments.

Apex is always happy to help if you have any further questions about your property and the NSW Land Tax.