Land tax is an annual levy applied to the unimproved value of property you own in New South Wales, provided its value exceeds the land tax threshold. For 2024, the general threshold is $1,075,000, with a premium threshold of $6,571,000. Land tax applies to various types of properties, including vacant land, holiday homes, investment properties, and commercial facilities. Importantly, it excludes your principal place of residence if it meets exemption criteria.

You’re required to pay land tax if you own land collectively valued above the threshold or if you’re a foreign owner for tax purposes. Calculations are based on land values as of 31 December each year, with no prorated adjustments for partial ownership. To learn more about your land tax obligations and exemptions, download our comprehensive Land Tax Fact Sheet below.