Taxation Valuation - Direct Comparison

Land Tax Valuations

In deciding whether other sales are comparable, you should consider a range of factors, including the parties to the sales, the dates of the sales and any special terms and conditions that applied to the sales. The adjustments that are required include location, topography, environmental factors, accessibility, utility services, town planning zoning and restrictions, site area, improvements, potential for an alternative use and any other factors likely to affect the property's desirability.

Whether you pay land tax on your property depends on, the type of land, what it’s used for, its total value at midnight on 31 December each year, whether you meet the definition of a foreign person for land tax purposes. Generally land tax does not apply to your home, known as your principal place of residence, your farm, known as primary production land, any land you own with total taxable value below the land tax threshold.