The examples below show how land tax is calculated in each of the tiers using the general rates.
Exceeds $668,000 but not $1,073,000
$0.50 for every $100 or part $100 above $668,000
For this example we are using a total site value of $700,000
Tax on $668,000
Nil
Plus tax on $32,000
Calculated as follows:
- 700,000 – 668,000 = 32,000
- 32,000 / 100 = 320
- 320 x $0.50
$160
2023-24 Tax Estimate
$160
Exceeds $1,073,000 but not $1,561,000
$2,025.00 plus $1.00 for every $100 or part of $100 above $1,073,000
For this example we are using a total site value of $1,250,000
Tax on $1,073,000
$2,025
Plus tax on $177,000
Calculated as follows:
- 1,250,000 – 1,073,000 = 177,000
- 177,000 / 100 = 1,770
- 1,770 x $1.00
$1,770
2023-24 Tax Estimate
$3,795
Exceeds $1,561,000 but not $2,500,000
$6,905.00 plus $2.00 for every $100 or part of $100 above $1,561,000
For this example we are using a total site value of $1,800,000
Tax on $1,561,000
$6,905
Plus tax on $239,000
Calculated as follows:
- 1,800,000 – 1,561,000 = 239,000
- 239,000 / 100 = 2,390
- 2,390 x $2.00
$4,780
2023-24 Tax Estimate
$11,685
Exceeds $2,500,000
$25,685.00 plus $2.40 for every $100 or part of $100 above $2,500,000
For this example we are using a total site value of $2,750,000
Tax on $2,500,000
$25,685
Plus tax on $250,000
Calculated as follows:
- 2,750,000 – 2,500,000 = 250,000
- 250,000 / 100 = 2,500
- 2,500 x $2.40
$6,000
2023-24 Tax Estimate
$31,685