LAND TAX SHOCKS!

4 Feb 2016

Land Tax notices are hitting mailboxes now - with some shocks. If you disagree with the land valuation used in your land tax assessment, you can object by writing to Land and Property Information within 60 days of receiving your notice. A word of caution though, to be successful you’ll need to produce evidence of comparable sales. Objections that the values are ‘too high’ or ‘above CPI’ are a waste of time. Be aware that any credible objection needs quite a lot of work. John Hill & Co has successfully argued for reductions in the past, where we can show appropriate evidence. This year, the tax-free threshold has increased to $482,000 (from $432,000 in 2015) and the premium threshold is now $2,947,000 (up from $2,641,000).