How site values are set, used for land tax and how to object.
The site value of your land is used to calculate land tax. We refer to this as the ‘taxable value’ on your land tax assessment notice.
On 1 January each year, the Valuer-General provides 2 values for every property in Victoria: site value and capital improved value.
Site value means the value of the land only. Capital improved value means the value of the land plus buildings, fences or other capital improvements.
We provide separate information for taxes which are calculated using the capital improved value of your land.
We are not involved in determining site values. Read more about how the Valuer-General makes valuations.
Site values and calculations
We use site values to calculate land tax. Your local council also uses it to set your rates. You can find your site value:
- on your land tax assessment notice (referred to as taxable value on the statement of lands)
- on your council rates notice
- in My Land Tax.
For 2025 land tax assessments, we are using valuations made on 1 January 2024.
We calculate land tax by applying the applicable tax rate to the total taxable value of your taxable land. The more your land is worth, the higher the rate we apply. We do not include land that is exempt, like your home. Read more about understanding your land tax assessment.
Disagreeing with your valuation
If you disagree with the site value, you can lodge an objection. An objection must be lodged within 2 months of the issue date on your notice. You will lodge your objection with us and we will forward it to the Valuer-General for consideration.
While your objection is being reviewed, you must still pay your land tax on time. Interest will apply to unpaid amounts. If the site value of the land is reduced, we will amend your tax assessment and refund any overpaid tax, including interest.
Lodge a valuation objection with us
Objections to council rates should be lodged with the council that issued you the notice.
