This video explains how land tax is calculated.
Land tax is calculated by applying the appropriate land tax rate to the total taxable value, or site value, of your land holdings.
The total taxable value does not include exempt land, such as your home.
The site value of land in Victoria is determined as part of the general valuation process conducted by the Valuer-General Victoria. These values are also used by local councils to calculate rates.
Land tax is assessed on a calendar year basis on the land you own at midnight on 31 December the year before your assessment is issued.
We do not adjust land tax for property bought, sold or settled during an assessment year. The owner of a property as at 31 December is responsible for paying the land tax assessment for the following year.
You can find the amounts used to determine your land tax liability on the second page of your land tax assessment. This page displays your total taxable value of land and any deductions or concessions applied.
You can find the current land tax rates at sro.vic.gov.au/landtaxrate