Land Tax - Does It Apply to You?

Land tax isn’t something every homeowner has to worry about - in fact, if you’ve only ever owned the house you live in, chances are you’ve never paid it. But if you’re looking at an investment property, a holiday home, or even a vacant block of land, it’s a cost you’ll want to factor in.

So what is it?
Land tax is an annual tax based on the value of the land (not the buildings on it). Your main residence is usually exempt, but once you start owning property beyond that, land tax can kick in.

Timing matters too. Land tax is calculated each year on 31 December. So even if you settle on a property right at the end of the year, you could still find yourself liable for a portion of that year’s tax.

The smart move? Check the NSW Government’s land tax threshold every year. If your land value creeps over it, be ready to budget for the tax. A little planning now can save you from a nasty surprise later.

Thinking of buying an investment property? I can walk you through the upfront and ongoing costs so you know exactly what you’re committing to.