Vacant residential land tax

Description

If you own residential land that was vacant for more than 6 months in the preceding calendar year, you may be liable for vacant residential land tax.

Transcript

Vacant residential land tax applies to empty homes in Victoria.

This tax affects you if you own a home that has remained unoccupied for more than 6 months in a calendar year.

The tax is charged annually and is calculated on the property’s capital improved value.

That is, the value of the property, including land, buildings and other improvements. This value is displayed on your council rates notice.

The rate charged depends on how long the property has been liable for the tax: 1% of capital improved value for the first year, 2% for the second year, 3% for the third year onwards.

If you own a home that was unoccupied for more than 6 months in a calendar year, you need to notify the State Revenue Office before the 15th of January of the following year.

Some vacant homes are eligible for an exemption. If your property was vacant for more than 6 months in a calendar year but may be exempt, you must still notify the State Revenue Office by the 15th of January.

Visit the our website for more information about exemptions, and a tool to help determine if this tax applies to you.