LAND TAX IN QUEENSLAND
Are you currently paying land tax or nearing the threshold?
What are the thresholds
If the value of your share in all land held in Queensland exceeds:
- for individuals $599,999 and
- for companies, trusts and absentees $349,999
you may be liable to pay land tax.
Facts to consider
Changes in your land valuation may affect your land tax liability. These handy land tax facts will keep you up-to-date on valuations.
- Land tax is calculated on the value of an owner’s aggregated land holdings as at 30 June each year.
- The unimproved valuations of land are determined and issued by the Department of Natural Resources and Water. You can find your value on your rates notice.
- For land tax purposes, this unimproved valuation is subject to an averaging process using the current valuation and valuations for the land for the previous two years.
- If the land does not have unimproved values for the previous two years, the land tax values may also be subject to the application of a State-wide averaging factor.
- Where there are significant increases in unimproved values, the increase may also be capped at 50% of the previous value.
Remember land tax is calculated on your share of the land.
