06 Nov What is land tax

Land tax is a tax levied on the owners of land in NSW as at midnight on 31 December of each year. In general, your principal place of residence (your home) or land used for primary production (a farm) is exempt from land tax.

You may be liable for land tax if you own or part-own:

• vacant land, including vacant rural land
• land where a house, residential unit or flat has been built
• a holiday home
• investment properties
• company title units
• residential, commercial or industrial units, including car spaces
• commercial properties, including factories, shops and warehouses
• land leased from state or local government.

Rates and thresholds

2012: The Valuer General has determined that the land tax threshold for the 2012 land tax year is $396,000. The premium land tax threshold for the 2012 land tax year is $2,421,000.

2011: The Valuer General has determined that the land tax threshold for the 2011 land tax year is $387,000. The premium land tax threshold for the 2011 land tax year is $2,366,000.

2010: The Valuer General has determined that the land tax threshold for the 2010 land tax year is $376,000. The premium land tax threshold for the 2010 land tax year is $2,299,000.