Land Tax objections - What can you do?

By Aldo Galante March 06, 2019

An objection to your land tax assessment can be lodged with the State Revenue Office (SRO) within 60 days of receipt of the notice. For your objection to be considered you will require sales evidence to support your argument that the Council Site Value (Land Value) assessment as at January 1, 2018 is too high.

Site Value (SV): is the market value of the land only

S. 2(1) def. of site value

Site value (SV) – site value of land means the sum which the land, if it were held for an estate in fee simple unencumbered by any lease, mortgage or other charge, might in ordinary circumstances be expected to realise at the time of the valuation if offered for sale on such reasonable terms and conditions as a genuine seller might be expected to require, and assuming that the improvements (if any) had not been made.

land_tax_objection_feature

It is important to note, you cannot object to the following:

  • Percentage increase in value
  • Percentage increase in Land Tax
  • Inconsistent Site Values between assessments
  • Market value has decreased since January 2018

In reality, the chance of a successful objection is very low. Before you proceed we recommend a preliminary review, which may save you time and costs. Remember, if you don’t have supporting sales evidence, your objection will have no chance of success. The cost versus likely saving should also be considered before proceeding to object.

If you have any questions, do not hesitate to contact me or call 9810 7295.

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Aldo Galante

Written by Aldo Galante

For over 30 years, Aldo has been at the forefront of Australia’s fast-evolving property industry. He served as President of the prestigious Australian Property Institute (Vic), providing determinations on rent-reviews and valuations

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