The examples below show how land tax is calculated in each of the tiers using the general rates.

Exceeds $450,000 but not $723,000
$0.50 for every $100 or part $100 above $450,000

For this example we are using a total site value of $600,000


Tax on $450,000

Nil

Plus tax on $150,000

Calculated as follows:

  • 600,000 – 450,000 = 150,000
  • 150,000 / 100 = 1500
  • 1500 x $0.50

$750.00

2020-21 Tax Estimate

$750.00


Exceeds $723,000 but not $1,052,000
$1365.00 plus $1.25 for every $100 or part of $100 above $723,000

For this example we are using a total site value of $800,000


Tax on $723,000

$1365.00

Plus tax on $77,000

Calculated as follows:

  • 800,000 – 723,000 = 77,000
  • 77,000 / 100 = 770
  • 770 x $1.25

$962.50

2020-21 Tax Estimate

$2327.50


Exceeds $1,052,000 but not $1,350,000
$5477.50 plus $2.00 for every $100 or part of $100 above $1,052,000

For this example we are using a total site value of $1,235,000


Tax on $1,052,000

$5477.50

Plus tax on $183,000

Calculated as follows:

  • 1,235,000 – 1,052,000 = 183,000
  • 183,000 / 100 = 1830
  • 1830 x $2.00

$3660.00

2020-21 Tax Estimate

$9137.50


Exceeds $1,350,000
$10,852.50 plus $2.40 for every $100 or part of $100 above $1,350,000

For this example we are using a total site value of $1,500,000


Tax on $1,350,000

$11,437.00

Plus tax on $150,000

Calculated as follows:

  • 1,500,000 – 1,350,000 = 150,000
  • 150,000 / 100 = 1500
  • 1500 x $2.40

$3600.00

2020-21 Tax Estimate

$15,037.00