Land tax legislation imposes an annual tax on the total taxable value (previously known as unimproved value) of all land owned in Victoria at midnight on 31 December of the year preceding the year of assessment where the total taxable land (excluding exempt land) is greater than the threshold. You may be liable for land tax if you own either:
- vacant land, including vacant rural land
- a holiday house
- one or more investment properties
- some primary production land that is not exempt due to its location close to a city.
Please note that special land taxes or a proportion of the land tax may apply in some instances.