Victoria land tax rates
| Total taxable land value | Land tax |
|---|---|
| Under $50,000 | Nil |
| $50,000 to under $100,000 | $500 |
| $100,000 to under $300,000 | $975 |
| $300,000 to under $600,000 | $1,350 plus 0.3% of the amount over $300,000 |
| $600,000 to under $1,000,000 | $2,250 plus 0.6% of the amount over $600,000 |
| $1,000,000 to under $1,800,000 | $4,650 plus 0.9% of the amount over $1,000,000 |
| $1,800,000 to under $3,000,000 | $11,850 plus 1.65% of the amount over $1,800,000 |
| $3,000,000 and over | $31,650 plus 2.65% of the amount over $3,000,000 |
How Victoria land tax works
Victorian land tax uses the site value of all taxable land you owned at midnight on 31 December of the year before. Since the COVID Debt Repayment Plan, the tax-free threshold has been only $50,000, and these rates apply for the 2024 to 2033 land tax years.
That means almost every investment property in Victoria now pays land tax, even a modest unit.
Trusts and absentee owners: land held on trust is taxed at trust surcharge rates from $25,000, and absentee owners pay an extra 4% surcharge. This calculator uses the general rates for individuals.
Victoria land tax at common land values
| Land value | Land tax per year | Per month |
|---|---|---|
| $400,000 | $1,650 | $138 |
| $600,000 | $2,250 | $188 |
| $800,000 | $3,450 | $288 |
| $1,000,000 | $4,650 | $388 |
| $1,500,000 | $9,150 | $762 |
| $2,000,000 | $15,150 | $1,262 |
| $3,000,000 | $31,650 | $2,638 |
Individual owner, general rates.
What's exempt
- Your home: your principal place of residence is exempt in every state.
- Primary production land used for farming is usually exempt.
- Other exemptions can apply to some retirement villages, charities and new build-to-rent developments.
Land tax is a deductible expense for a rental property. See how it affects your costs with the mortgage calculator, and check Victoria stamp duty before you buy.
Common questions
What is the land tax threshold in Victoria?
For individuals it's $50,000 of total taxable land value, from the 2024 land tax year. It was $300,000 before the COVID debt changes.
How much land tax do I pay on a $500,000 land value in Victoria?
$1,350 plus 0.3% of $200,000, which is $1,950 a year.
Is the Victorian COVID debt levy permanent?
The current rates apply for the 2024 to 2033 land tax years, according to the State Revenue Office.
Land tax in other states
Estimates for general information only. Your assessment notice is final. Source: SRO Victoria, land tax current rates.