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How is Land Tax Calculated?

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How is Land Tax Calculated?

From Land Tax year 2019 -2020, there has been a change to the tax rates. They are as follows:

Improved Land (for Residential purposes)

  • 0.0% of land valued up to $150,000
  • 0.1% on the excess of the improved value greater than $150,000 but not exceeding $450,000
  • 0.7% on the excess of the improved value greater than $450,000 but not exceeding $850,000
  • 1.0% on the excess of the improved value greater than $850,000

Please note that tax on improved land is calculated on the improved value of the land.

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