LAND TAX PUZZLE
26 Feb 2020
How can you have an increase in the taxfree threshold and in most cases a fall in land value and still pay more Land Tax than last year?
The reason is the taxable land value is the average of the last 3 years valuations. Although this year’s valuation fell from last year , it is still higher than the one 4 years ago which has dropped off.
For the record the threshold this year is$734,000. Any objections to this year’s valuation must be lodged within 60 days.